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Shares of the company, whose businesses include
the Huffington Post news website and the TechCrunch blog, were
up 4 percent in premarket trading on Friday.
Advertising has become a major revenue stream for AOL as the
company moves away from dial-up subscription service, helped by
acquisition of automated advertising platforms such as Adap.tv.
Revenue in AOL's ad platform business rose 21 percent to $279.8
million, accounting for 45 percent of total revenue.
Ad sales across AOL's brands grew 8 percent as a surge in search
ads more than offset continued weakness in display ads.
Total revenue rose 7.2 percent to $625.1 million, topping the
average analyst estimate of $594.6 million.
Subscription revenue fell 6 percent to $141.6 million as the
number of domestic subscribers fell 11 percent.
Net income attributable to AOL fell to $7 million, or 9 cents
per share, in the first quarter ended March 31 from $9.3
million, or 11 cents per share, a year earlier.
Excluding items, the company earned 34 cents per share.
Analysts on average had expected a profit of 32 cents per share,
according to Thomson Reuters I/B/E/S.
(Reporting by Abhirup Roy and Subrat Patnaik in Bengaluru;
Editing by Joyjeet Das and Saumyadeb Chakrabarty)
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