AOL Inc. has announced their financial results this morning. The company reported earnings of 22 cents per share compared to a loss per share of 2 cents in Q3 2011. AOL was expected to report Q3 earnings at 17-19 cents per share so they beat Wall Street expectations. AOL’s total revenue was pretty flat at $531.7 million compared to the same quarter in 2011. Operating income was at $43.1 million and net income hit $20.8 million for the 3 months ended September 30, 2012. Total ad revenue was at $340 million for the quarter (up 7% from $317.7 in Q3 2011).
In Q2 2012, AOL reported total revenues of $531 million. Last quarter, AOL’s income from ads grew 7% in combined AOL Properties Display and Third Party Network revenue, which was at a total of $248.2 million for the period. AOL reported 8% growth year-over-year for Search and Contextual revenue. This jump is attributed to double-digit growth in search revenue on AOL.com.
?We just reported the best relative revenue performance in seven years and the second consecutive quarter of year-over-year profit growth, exceeding our expectations,” stated AOL CEO Tim Armstrong.
AOL’s unique visitors hit 111 million in Q3 2012. This is 4% growth year-over-year, but is slightly down from Q2 2012.
AOL has around $867 million of cash and equivalents as of September 30, 2012.