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AOL Inc‘s third-quarter revenue dropped 6 percent because of its dwindling
dial-up Internet access business though it beat analysts expectations and its
stock rose more than 11 percent.
The company reported on Wednesday revenue of $531.7 million, ahead of
analysts’ estimates of $524 million, according to Thomson Reuters
I/B/E/S.
“Investors have gotten used to disappointment from AOL especially in the
forward outlook,” said Benchmark analyst Clayton Moran. “Mainly there are no
negative surprises in this quarter… and the forward outlook seems to be more
stable.”
Prior to Wednesday’s rally, AOL shares were down more than 40 percent year to
date.
Related articles
- AOL beats expectations, shares rise (theglobeandmail.com)
- AOL revenue drops in third quarter, but still beats expectations (venturebeat.com)
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