UPDATE: AOL Q3 Profit Drops 90%

AOL AOL reported a 90% drop in its third-quarter profit. AOL's quarterly profit declined to $2 million, or $0.02 per share, versus $20.8 million, or $0.22 per share, in the year-ago period. Its revenue climbed 5.6% to $561.3 million. However, analysts were expecting earnings of $0.35 per share on revenue of $549 million. AOL's advertising revenue rose 14% to $386 million, while search advertising revenue climbed 3.5%. AOL shares gained 3.31% to $40.00 in pre-market trading.