AOL swings to profit despite declines in global ads

AOL Inc. posted a slender profit Wednesday, shedding light on the company's performance during its final days as a part of Time Warner Inc. in its bid to stage a turnaround.

In its first quarterly report since its return as an independent company, New York-based AOL said net income for the fourth quarter totaled $1.4 million, or 1 cent a share, compared with a loss of $1.96 billion, or $18.52 a share, in the same period a year earlier.

Excluding the impact of assorted charges and costs, earnings in the latest quarter would have equaled 71 cents a share, the New York-based company said. Analysts had expected AOL to earn 62 cents a share and make $763.5 million in revenue, according to a Thomson Reuters survey.

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- Posted: 2010-02-03 11:44:56

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