AOL Earnings Beat Wall Street Estimates, Boosted by Ad Growth

AOL reported profits on Thursday that beat analyst estimates. The company posted earnings of 52 cents per share and a net income of $28.5 million. Third quarter revenue came in at $626.8 million, also beating Wall Street forecasts. AOL increased its global ad revenue 18% over the year on the back of premium formats, like video and third party platforms. AOL Chairman and CEO Tim Armstrong said the company continued to see growth in consumer traffic, revenue and profitability across its portfolio. Shares of the internet provider have fallen almost 6% since the beginning of the year but edged up slightly on Thursday following the earnings release.

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