AOL Reports Q3 Earnings, Beats Expectations – AOL

by Business Insider | November 5, 2013 7:03 am

aol AOL Reports Q3 Earnings, Beats Expectations   AOLAOL (AOL[1]) just reported its Q3 earnings.

It beat expectations.

Profits are down sharply year-over-year, but that’s because AOL finally cut costs in its local news division, Patch, and had to deal with restructuring costs and asset impairments.

Investors have long yearned for AOL to cut Patch costs, so they likely won’t mind the short term pain.

Adjusting for those costs, profits are up.

Here’s a quick run down from the company:

AOL says it repurchased 2.5 million shares from July 1 through today at an average of $34.25.

AOL highlighted these trends in a release emailed to us:

Endnotes:
  1. AOL: http://studio-5.financialcontent.com/investplace/quote?Symbol=AOL

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