AOL Shares Rally on 4Q Beat


Digital media and entertainment company AOL Inc reported a better-than-expected 13 percent rise in quarterly revenue as its advertising revenue rose, especially from video.

The company's total revenue rose to $679 million in the fourth quarter ended Dec. 31 from $599.5 million a year earlier.

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Analysts on average had expected revenue of $655.8 million, according to Thomson Reuters I/B/E/S.

Net income attributable to AOL rose to $36 million, or 43 cents per share, in the quarter from $35.7 million, or 41 cents per share a year earlier.

AOL, which owns the Huffington Post news website and TechCrunch blog, reported a 23 percent rise in advertising revenue due to higher sales of premium ad formats such as video.