by Christopher Freeburn | November 6, 2012 9:00 am
AOL (NYSE:AOL) announced on Tuesday that it earned $20.8 million during the third quarter, an improvement over the $2.6 million loss it reported in the same period last year. EPS came in at 22 cents, which easily beat the 17 cents that Wall Street had expected, Reuters noted.
The struggling Internet pioneer reported quarterly revenue of $531.7 million, little changed from last year, but surpassing the $521.6 million anticipated by analysts.
Shares of AOL rose more than 3% in pre-market trading on Tuesday morning.
The company said that advertising revenue climbed to $340 million, up 7% over last year. Domestic display ad revenue dipped 3%, but that was offset by higher display revenue from international advertisers.
However, the company’s legacy dial-up subscription business continues to shed users. Revenue at the dial-up service fell to $173.5 million, down 10% from last year. Still, that marked the slowest year-over-year revenue slide in six years.
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