AOL Inc. (NYSE:AOL) produced a new documentary series recently – My Ink — in which athletes are interviewed about the meaning of their tattoos. Comparatively, if the company had a tattoo based on its third quarter earnings report, it would be green and shaped like a dollar sign — though only time can tell us what it really means.
The Company’s total revenue came in at $561.3 million, up from last years 531.7 million, and driven by the 14 percent global global advertising revenue growth — according to a company press release. Diluted earnings-per-share came in at $0.02 cents per share, but that’s without adjustment.
According to 24/7 Wall St., the one time impacts affecting earnings are to include $19 million in restructuring, $29 million in asset impairments and write-offs, $11.8 million in equity-based compensation expenses, and a tax benefit of $16.7 million. This puts the impact per diluted share at $0.53 cents compared with the $0.10 cent impact a year ago. Consensus estimates were around $0.35 cents per share, with a revenue estimated at $548.81 million. With a total revenue at $561.3 million, it’s fair to expect a slightly higher EPS — however, experts are awaiting guidance from the upcoming conference call.
“AOL’s third quarter results are another step forward in our long-term plan. The third quarter results highlight the strength of AOL’s strategy and the consistent execution of our team in delivering great consumer experiences and successful customer results,” said Tim Armstrong, the Chair and CEO of AOL, according to the company press release.
Reuters notes one possible detriment to the company’s finances — Patch — a network of community news websites, saying that the investment was a gamble of $150 million from CEO Tim Armstrongs, and that the gamble didn’t pay off. In recent quarters, AOL had to lay off about 500 employees, and began a major scale-back on patch publishing teams around the U.S., focusing resources on more central areas to conserve.
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