Earnings crunched for AOL

AOL revenues for the third quarter beat expectations when announced yesterday, with increased advertising sales, but earnings fell sharply because of challenges at its network of community news websites known as Patch. The digital media firm took a pre-tax restructuring charge of $19m (£11.84m) and an impairment charge of $25m, sending income down 90 per cent to $2m. But relieved investors sent shares up more than eight per cent.

Related articles