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AOL’s Tim Armstrong: We Will Be Launching A New Social Ad Format Soon

Leena Rao

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Leena Rao is currently a Senior Editor for TechCrunch. She recently finished graduate school at the Medill School of Journalism at Northwestern University, where she studied business journalism and videography. From 2004 to 2007, she helped lead Congresswoman Carloyn Maloney’s community outreach and relations efforts in New York City. She graduated from Columbia University in 2003, where she was... → Learn More

Wednesday, November 2nd, 2011
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aol

AOL reported third-quarter earnings this morning. Revenue was down 6 percent to $531.7 million. The company swung to a loss in terms of net income, losing $2.6 million, or $0.02 per share. Analysts expected a loss of loss of 7 cents per share. Disclosure: AOL is the parent company of TechCrunch.

But AOL was able to grow global advertising by 8%, driven by 28% and 15% growth in third party network and global display advertising revenue Tim Armstrong, Chairman and CEO said in a statement: “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.”

Search and contextual revenue declined 15%. In local, Patch surpassed 10 million monthly unique visitors and 10,000 bloggers on its platform. Armstrong added about Patch, “We believe it’s a very good investment.” He added, “We’re headed to being one of the largest local and national providers of content.” The platform also has around 5,000 advertisers.

The Huffington Post launched or relaunched 18 properties and surpassed 35 million monthly unique visitors in Q3. AOL’s traffic as a whole was flat for the quarte; properties saw 107 million average monthly unique users, up 1 percent from last year. Traffic to the Huffington Post Media Group came in at 97 million unique users per month, flat from last year.

He also said the company is adding social and commerce components to advertising, and said that the AOL will be debuting a new social ad format for advertisers soon.

As of September 30, 2011, AOL had $444.1 million of cash.


Crunchbase

Company: AOL
Website: aol.com
Launch Date: May 24, 1985
IPO: April 12, 2009, NYSE:AOL

AOL is a global advertising-supported Web company, with display advertising network in the U.S., a substantial worldwide audience, and a suite of popular Web brands and products. The company’s strategy focuses on increasing the scale and sophistication of its advertising platform and growing the size and engagement of its global online audience through leading products and programming. History of Aol: AOL was founded in the early 1980’s as Control Video Corp, with an online service, Gameline, for the Atari 2600 console. ...

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