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The company's third-party platform helps to buy
and sell online ad spots through bidding via computers.
AOL, whose businesses include the Huffington Post news website
and the TechCrunch blog, is trying to become a hub of digital
media buying, which is quickly becoming automated, similar to
how Wall Street investors trade stocks on exchanges.
Total advertising revenue rose 18.4 percent to $473.4 million in
the third quarter ended Sept. 30, helped by the acquisition of
video advertising platform Adap.tv and the increase in
"programmatic" advertising.
Advertising revenue from AOL's third-party platform jumped 44.3
percent to $215.1 million.
AOL also said it had completed an investigation into a data
breach in April and it will not incur any material loss related
to it. (http://1.usa.gov/1vO56MA)
AOL had urged its tens of millions of email account holders to
change their passwords and security questions after the cyber
attack compromised about 2 percent of its accounts.
Net income attributable to AOL rose to $28.5 million, or 35
cents per share, for the third quarter ended Sept. 30, from $2
million, or 2 cents per share, a year earlier.
Revenue rose to $626.8 million from $561.3 million.
Excluding items, the company earned 52 cents per share.
Analysts on average had expected a profit of 52 cents per share
on revenue of $623.5 million, according to Thomson Reuters
I/B/E/S.
Shares of the company closed at $43.87 on the New York Stock
Exchange on Wednesday.
(Reporting by Anya George Tharakan in Bangalore; Editing by Don
Sebastian)
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