AOL Returns to Ad Growth as Loss Narrows

NEW YORK ( TheStreet) -- AOL ( AOL) reported a return to advertising revenue growth as it posted a second-quarter loss on revenue somewhat higher than analysts were expecting.

The online media company posted a net loss for the second quarter of $11.8 million, or 11 cents a share. A year earlier, the company lost $1.05 billion, or $9.89 share.

The company had $542.2 million in revenue for the quarter, vs. $592 million in the year-ago period. A consensus of analysts was expecting revenue of $530 million. Advertising revenue rose to $319 million from $304.7 million a year earlier.

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"AOL's return to global advertising growth for the first time since 2008 reflects the hard work of our team and another meaningful step forward in the comeback of the AOL brand," said Tim Armstrong, chairman and CEO, in a statement.

-- Written by Carlton Wilkinson