Total third-quarter revenue rose 12 percent to $626.8 million, ahead of the average analyst estimate of $623.5 million, according to Thomson Reuters I/B/E/S. Advertising revenue jumped 18 percent to $473.4 million largely due to a huge uptick in third-party platform sales, where AOL helps advertisers place their dollars on other digital properties. Still, investors sent AOL shares down about 6 percent to $41.36 in morning trade on Thursday. Evercore ISI analyst Andrew McNellis said Wall Street is likely responding to AOL's miss on adjusted operating income before depreciation and amortization (OIBDA), which rose 2 percent to $121.8 million.
via Business News http://ift.tt/1uA94Ob
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