In a recent report, it has been claimed that Web service company AOL Inc. has come out with its report on fourth quarter of 2012. It has been revealed in the same that the revenue has managed to touch $600m (£380m), showing an increase of 4% from the last years. it has even crossed the mark of $574m as estimated by analysts.
The company has witnessed growth in revenues year-over-year for the first quarter in eight years, which was majorly triggered by its growth and momentum in global advertising business. Moreover, its net income attributable has been seen at $35.7 million from $22.8 million last year, which has ultimately been able to meet with what market experts were predicting.
Taking about global advertising revenue, it has managed to go up by 13% to $410.6 million, while third party revenue saw a hike of 31% from last year. It has been further added that subscription revenues witnessed a drop of 10% from its last year at $174.2 million.
"AOL has strong momentum entering 2013 and is positioned to continue on our growth path by executing our strategy to build the next-generation media and technology company", said chairman and chief executive Tim Armstrong, while confirming that shares of the company closed at 7.4% at the market close in Wall Street on Friday.
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