AOL Shares Surge on Earnings Beat and New Ad Technology

AOL (AOL) shares jumped on Friday after the company reported results that beat analyst estimates. The internet giant posted increased revenue of $625.1 million for the first quarter, but profit was down to $0.34 per share. The owner of The Huffington Post and Tech Crunch saw ad sales increase 12% year-over-year. CEO Tim Armstrong told TheStreet today that his vision for the company is finally taking shape: 'You can really, clearly see now that the investment we've made in programmatic and video is really paying off and it's really where the market is and we got there before the market got there.' The company launched new software last month to help marketers target their ads and track consumer activity. The technology now puts AOL in direct competition with web advertisers like Facebook and Google. Earnings took a hit from restructuring costs and currency swings but the stock was up on the earnings numbers.