AOL?s Tim Armstrong: We Will Be Launching A New Social Ad Format Soon

AOL reported third-quarter earnings this morning. Revenue was down 6 percent to $531.7 million. The company swung to a loss in terms of net income, losing $2.6 million, or $0.02 per share. Analysts expected a loss of loss of 7 cents per share. Disclosure: AOL is the parent company of TechCrunch. But AOL was able to grow global advertising by 8%, driven by 28% and 15% growth in third party network and global display advertising revenue Tim Armstrong, Chairman and CEO said in a statement: "We continue to build strong consumer experiences as we execute our strategy to build the premium branded media company for the internet. Our share repurchases underlie our belief in the value of AOL and our strategy."

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