AOL revenue rises 13 percent as ad sales jump

Reuters News
Posted: Feb 06, 2014 7:16 AM

(Reuters) - Digital media and entertainment company AOL Inc reported a better-than-expected 13 percent rise in quarterly revenue as its advertising revenue rose, especially from video.

The company's total revenue rose to $679 million in the fourth quarter ended December 31 from $599.5 million a year earlier.

Analysts on average had expected revenue of $655.8 million, according to Thomson Reuters I/B/E/S.

Net income attributable to AOL rose to $36 million, or 43 cents per share, in the quarter from $35.7 million, or 41 cents per share a year earlier.

AOL, which owns the Huffington Post news website and TechCrunch blog, reported a 23 percent rise in advertising revenue due to higher sales of premium ad formats such as video.

(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Kirti Pandey)