AOL, Inc. (NYSE:AOL) released its earnings numbers for the three months through September this morning before the market opened on Wall Street. The company showed earnings per share of 55 cents excluding some items. That number beat the consensus expectations of analysts and saw the company’s stock jump by more than 5% in this morning’s pre-market.
In the run-up to the release of these numbers, 17 AOL, Inc. (NYSE:AOL) analysts surveyed by Bloomberg were looking for earnings of 51 cents per share from this morning’s earnings report. The same analysts were looking for revenue of $548.8 million for the third quarter of 2013. Revenue in this morning’s report came in at $561.3 million.
In the same three months of last year AOL, Inc. (NYSE:AOL) managed to earn 34 cents per share for the quarter. This morning’s earnings beat expectations by about 4 cents per share, but only after certain items are excluded. The company took hits to its bottom line on some restructuring costs and asset write-downs.
The largest one-off costs in this report were related to the spinning down of the AOL, Inc. (NYSE:AOL) news division Patch. That division has long been the bane of the company’s bottom line so the asset write-downs and restructuring charges it took in today’s report have been reacted to with flippancy on this morning’s market.
AOL, Inc. performance
2013 has seen a resurgence of interest in AOL, Inc. (NYSE:AOL) and a realization that the firm is still a functioning business and one that might be worth investing in. Since the start of the year shares in AOL have outperformed the wider market. The company’s stock has gained more than 30% since January 1.
Executives from AOL, Inc. (NYSE:AOL) are going to host a conference call to discuss this morning’s earnings report at 9:30 AM EST. The company’s shareholders will be eager to hear management’s guidance for the current quarter and any strategy that may be revealed.