AOL came in ahead of analyst estimates on revenue but not earnings in its in its fourth quarter of 2013, reporting $679 million in revenue and diluted earnings per share of 43 cents.
Analysts had predicted EPS of 60 cents per share and revenue of $655.8 million.
“2013 was AOL’s most successful year in the last decade, and we accomplished our goal of industry level growth at scale for AOL,” said AOL CEO Tim Armstrong (pictured) in the earnings release. “AOL’s exceptionally talented team continues to execute against our strategy and our results show meaningful progress in the most important areas of media and technology. AOL plans to invest in our market leading strategies in 2014, while we continue to grow the company.”
Revenue is up 13 percent compared to the fourth quarter of 2012, when the company (which owns TechCrunch) reported $599.5 million in revenue, as well as EPS of 41 cents per share. That’s apparently the most that AOL revenue has grown in a decade.
Advertising revenue grew 23 percent to $507 million, while subscription revenue (insert dial-up joke here) declined another 10 percent to $156.7 million. Operating income was up 5 percent, to $71.8 million, while net income was up 1 percent, to $36 million.
The last month has been an eventful one for AOL, with the company announcing plans to spin out its hyperlocal news effort Patch (it will still own a minority stake) and acquire personalization startup Gravity — but both announcements came after the close of the quarter on December 31.
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