AOL Revenues Increase, Profits Plummet
AOL reported its third quarter earnings today. The good news is that revenue increased by six percent, from $532 million last year to $561 million this year. The bad news is that profits dropped 90 percent, to only $2 million.
The decline in net income was mostly due to Patch, AOL’s hyperlocal news sites that never quite panned out. AOL reported a $19 million pretax restructuring cost and a $25 million impairment charge, both related to Patch.
At
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in