AOL Reports Q3 Revenues Down 6%
November 2, 2011 at 6:42 AM (PT)
AOL INC. released third quarter 2011 results TODAY. Total revenues were down 6% from $531.7 million in Q3 2011 from $564.2 million in Q3 2010.
"AOL grew global advertising by 8%, driven by 28% and 15% growth in third party network and global display advertising revenue, respectively, substantially closing the gap to revenue and eventual profit growth," said Chairman/CEO TIM ARMSTRONG. "We continue to build strong consumer experiences as we execute our strategy to build the premium branded media company for the internet. Our share repurchases underlie our belief in the value of AOL and our strategy."