AOL posted revenue of $532 million and a loss of $.02 per share ($2.6 million), but that was better than what analysts had expected so Wall Street is happy, and so is chairman and CEO Tim Armstrong.
Even though the $532 million was about 6 percent less than what the company brought in a year ago, ad revenues rose 8 percent and now make up the clear bulk of the company’s business. The once-strong Internet subscription business fell 22 percent to $192 million.
The Huffington Post Media Group, AOL said, surpassed 35 million monthly visitors in the third quarter, while Patch hit 10 million monthlies and now has 10,000 bloggers contributing to the network.
Allthingsd’s Peter Kafka points out, though, that AOL’s core properties haven’t been able to attract much growth in traffic: “A year ago, AOL attracted 106 million monthly unique visitors to its sites; this year, the total only moved up to 107 million.”
AOL’s been able to hang in there so far. The question is whether it will be able to continue to do so without more major layoffs.