AOL has reported their earnings this morning and they were ahead of analyst expectations. The company reported revenue of $531 million. Wall Street estimated $519 million. The revenue is just a 2% decline from the same quarter last year, which was the company’s lowest decline in seven years.
AOL’s traffic has hit 112 million unique visitors across all of their properties, which is a 4% increase from the first quarter of 2012 and up 5% from the fourth quarter of 2011. AOL’s domestic display ad sales were flat, but had improved from the previous quarter’s declines.
“Today’s results represent a significant milestone for AOL as we returned to Adjusted OIBDA growth for the first time in four years,” stated AOL Chairman and CEO Tim Armstrong. “The strong results and consumer performance we announced today are clear signs our strategic and operating efforts are translating into significant financial progress.”