AOL CEO Tim Armstrong Says $315M Investment in Huffington Post Has Paid Off
Following the company’s earnings report Wednesday morning, AOL (NYSE: AOL) CEO Tim Armstrong came onto CNBC’s Street Signs to give a bit of color to the company’s report. Below are some highlights:
How do you Feel About the Earnings Report?
- The company (AOL) has clear strategy, and is showing clear results
On the Decline in Subscription Revenue
- The declines have been moderated - Advertising is the majority of company’s revenue now, and is up year over year
- Many great companies are posting good earnings with ads
On “Expensive” Acquisitions
- Strategy starts and finishes where the world is going
- The world is going towards video, the expensive acquisition of Huffington Post has turned into a deal
On the company’s investments
- Tim Armstrong says investment in Patch is turning out well -Investing where consumer and advertiser interest is
- Making big bold bets into the future
Shares of AOL are down 9.85 percent to $37.34 at the time of this writing.
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