In addition to announcing a $US405 million acquisition, AOL reported its second quarter earnings this morning.
AOL says it beat Wall Street expectations in both revenues and profits.
Analyst Victor Anthony of Topeka Capital says AOL slightly missed on its revenues and beat EBITDA expectations by 6%
And this is the note AOL PR sent out with the details:
- Adjusted OIBDA of $US108.3, $US7M higher than the Street’s $US101M
- Reported EPS of $US0.35 was $US0.03 higher than the Street’s $US0.32. Excluding the items impacting comparability detailed on page 9 of the release would get you to an Adjusted EPS of $US0.46, which is $US0.04 ahead of the consensus estimate of $US0.42.
- Total Revenue of $US541.3M
- Grew all advertising revenue lines year-over-year for the second consecutive quarter
- Grew global advertising revenue year-over-year for the 9th consecutive quarter
- Grew search revenue year-over-year for the 4th consecutive quarter
- Grew combined AOL Properties Display and Third Party Network Revenue 7% year-over-year — an apples to apples look to some of our peers.
- Third Party Network revenue grew 9%, its 9th consecutive quarter of year-over-year growth.
- Subscription revenue trends continue to improve, with year-over-year revenue decline of 5% and churn of 1.4% both near historical lows
- Traffic on AOL Properties Grew 3% Year-over-Year