AOL Profit Beats Estimates on Growth in Digital Ad Revenue
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AOL’s first-quarter profit beat analysts’ estimates as the owner of the Huffington Post and other websites increased global advertising revenue.
Profit excluding some items was 34 cents a share, the New York-based company said, surpassing the 32-cent average of analysts’ estimates compiled by Bloomberg. Revenue rose 7.2% to $625.1 million, above the $594.3 million average prediction. The shares rose in pre-market trading.
AOL’s fastest-growing business is digital advertising, and almost half of online display ads on its websites are now sold through automation. Last month the company unveiled technology that helps marketers decide where to best spend their money, putting it in direct competition with two leading web ad companies, Google and Facebook.
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