AOL Posts Profit in 2Q

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By Chris O'Shea

AOL has posted a profit in the second quarter, thanks in part to selling $1 billion worth of patents to Microsoft in April. Net income for AOL hit $970 million and revenue was at $531 million, about $12 million higher than Wall Street predicted.

Another factor in the positive quarter was global display ad revenue rose two percent, to $139 million. Total advertising also jumped almost six percent, to $337 million.

AOL also slowed traffic loss — it only declined about one percent during 2Q — which is a good thing when you’re losing visitors as fast as AOL has been.