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AOL Reports Q3 Earnings.
NEW YORK -- AOL Inc. (NYSE: AOL) released third quarter 2010 results today.
"AOL is working hard to redefine the consumer experience on the internet,"said Tim Armstrong, Chairman and Chief Executive Officer. "In Q3, AOL continued on the path towards better health through targeted acquisitions and smart dispositions, meaningful product improvements, site relaunches, and strategic partnerships, all of which will enable us to execute more quickly against our strategy."Summary Results* In millions (except per share amounts) Q3 2010 Q3 2009 Change RevenueAdvertising$292.8$402.3-27%Subscription244.8332.2-26%Other25.929.4-12%Total revenues$563.5$763.9-26%Adjusted operating income before depreciation and amortization (OIBDA) (1)$157.7$225.8-30%Restructuring costs (included in Adjusted OIBDA)$(0.4)$10.2-104%Operating income$80.9$122.0-34%Net income attributable to AOL Inc.$171.6$74.0132%Diluted EPS from continuing operations$0.93$0.6739%Cash provided by continuing operations$165.0$169.3-3%Free Cash Flow (1)$130.8$125.34%*The financial information for buy.at and ICQ are reflected as discontinued operations for all periods presented. (1) See Page 8 for a reconciliation of Adjusted OIBDA and Free Cash Flow to the GAAP financial measures the Company considers most comparable. Noteworthy Items: * Since the end of Q2 2010, AOL remained active across all of its strategic areas of focus: relaunching AOL.com, Moviefone and Stylelist and forming strategic partnerships in Content, introducing a revolutionary new advertising format in Advertising, rapidly expanding Patch into 133 new towns and relaunc...See the full content of this document
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