Does AOL CEO Tim Armstrong Love Bronze Medals?
AOL (NYSE:AOL) now seeks to become the third largest provider for display advertising on the web. AOL currently trails Microsoft (NASDAQ:MSFT), Yahoo (NASDAQ:YHOO), Google (NASDAQ:GOOG) and Facebook in display advertising.
CEO Tim Armstrong considers this goal to be ambitious because “being the No. 3 player at that table is a unique place to occupy.” However, this goal certainly scales down Armstrong’s slogan last year to “Beat the Internet”. AOL’s muted web advertising plans coincides with the delayed introductions of international editions of the Huffington Post.
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“With projected 2011 display revenues of $522 million, according to eMarketer, AOL’s (NYSE:AOL) is currently No. 5, not far behind Microsoft (NASDAQ:MSFT) ($602 million) but nowhere close to catching Google (NASDAQ:GOOG) ($1.1 billion), Yahoo (NASDAQ:YHOO) ($1.6 billion) or Facebook ($2.2 billion),” according to Forbes.
AOL’s stock (NYSE:AOL) is down 15.57% to $11.77 on the news. Shares are down 50.36% year to date. The stock has traded in a 52-week range between $10.06 and $27.65.
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