AOL’s ad revenue in the second quarter of 2011 grew 5 percent over the same period in 2010, the company announced today.
This at the same time that the company’s subscription business lost nearly $60 million, or 23 percent, dragging total revenue down by 8 percent. Ad revenue now makes up 58 percent of AOL’s income.
Because of lower restructuring costs in 2011 and no large impairment costs the company was able to reduce its loss to $11.8 million, down 99 percent from the prior year (that’s not a typo).
Here are some highlights:
- AOL says that according to Comscore, the Huffington Post got more traffic than the New York Times in May.
- There are now Patches in 846 towns.
- Patch revenues are up, but the company hasn’t said by how much, and the company says it has continued to invest in the hyperlocal network.