AOL's CEO Discusses Q2 2011 Results - Earnings Call Transcript

These forward-looking statements typically are preceded by words such as we will, we expect, we believe, we anticipate or similar statements. These forward-looking statements are subject to risks and uncertainties, and our actual results could differ materially from the views expressed today. Reported results should not be indicative of future performance.

Some of these risks have been set forth in our quarterly report Form 10-Q for the three months ending June 30, 2011 and in our annual report Form 10-K for the year ended December 31, 2010 filed with the SEC. All information discussed in this conference call is as of today August 09, 2011, and we do not intend nor do we undertake any duty to update this information to reflect future events or circumstances.

We will also discuss certain non-GAAP financial measures including adjusted OIBDA and free cash flow. I’ll refer you to the press release on the Investor Relations section of our website for all comparable GAAP measures and full reconsolidations.

With that, I’ll turn it over to Tim.

Tim Armstrong

Yeah. Thanks Eoin. Good morning. And thanks for joining us on the Q2 AOL Call. AOL is singularly focused on becoming the next great media company for the digital age, being rich, engaging and easy to find content and experiences for consumers and best-in-class environment for advertisers.

Our focus on this call is put us on a growth path. We have cleaned up and simplified our operations. We are witnessing encouraging metrics in key growth areas and we are seeing the beginning of this manifest in our reported numbers. AOL is a healthier company today than it was a year ago.

In Q1, we grew display revenue for the first time in four years. The Q2 display revenue continued to grow and for the first time in three years, AOL grew global advertising revenue. These are important steps in the come back of AOL and demonstrate the tough work we have done to fix the company and it is having an impact. Revenue growth will precede profit growth and we have revenue growth on the move.