Internet provider AOL (AOL) reported first-quarter revenue that grew 2% to $538 million on an increase in advertising revenue. The company said total ad revenue grew to $359 million from $330 million, and that AOL Properties display ads experienced particular strength. Growth in search revenue helped offset a loss in subscribers. AOL said subscription revenue fell 9% from the same period a year ago to $166 million, though the decline slowed. The average monthly churn rate slightly dipped to 1.9% from 2% in the year-ago quarter. "Growth continues at AOL," Chairman and CEO Tim Armstrong said in a statement. "AOL's strategy of being the first scaled media and technology company is clearly represented in our results today, and we will continue to aggressively drive the company toward near-and long-term growth." Earnings at the company rose to $25.9 million from $21.1 million a year ago.
McDonald's (MCD - Get Report) reported a bigger-than-expected drop in comparable sales in April, weighed down by global economic challenges.