Internet Earnings: 'Growth Company' AOL Isn't That, Yet; IAC Back In The Black
In other earnings related news today, Aol has decided it wants to be an “internet growth company,” according to CEO Tim Armstrong in the company’s Q1 earnings statement today. What that means, we don’t know, but the company is still finding its feet since spinning off from Time Warner late last year: the company reported a 58% drop in profit, to $34.7 million, on a 23% decrease in revenue ($664 million).
The company noted that it reduced expenses by $139 million, thanks to its selling-off of legacy products (like today’s
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