UPDATE: AOL Posts Upbeat Q4 Earnings, Revenue Misses Views

reported stronger-than-expected earnings for the fourth quarter, but the company's revenue missed analysts' estimates. The New York-based company posted a quarterly net profit of $59.6 million, or $0.73 per share, compared to $36 million, or $0.43 per share, in the year-ago quarter. Excluding non-recurring items, the company's earnings climbed to $0.92 per share from $0.64 per share. Its revenue climbed 5% to $710.3 million. However, analysts were expecting earnings of $0.72 per share on revenue of $721.84 million. Global advertising revenue gained 8% to $562.2 million, while subscription revenue slipped 5% to $148.1 million. Brand Group revenue came in essentially flat y/y, while AOL Platforms revenue climbed 20% y/y. At December 31, 2014, AOL had $489 million of cash and equivalents and no outstanding borrowings under its revolving credit facility. In 2014, the company repurchased around 2.5 million shares of common stock at an average price of $38.93. "AOL's global team delivered our second consecutive year of growth in revenue and profits – while we lowered our expenses," said Tim Armstrong, AOL Chairman and CEO. "AOL is building leading assets in the fastest growing areas of media technology and we are aggressively moving the company forward in 2015." AOL shares rose 1.33% to close at $44.83 yesterday.