Digital media and entertainment company AOL Inc reported better-than-expected quarterly revenue, helped by a 60 percent jump in advertising revenue in its third-party platform.AOL, whose shares were up nearly 4 percent in premarket trading, also said it approved a $150 million share buyback program.Advertising has become a major revenue stream for AOL, the owner of the Huffington Post news website and the TechCrunch blog, especially as the company moves away from dial-up subscription service.Advertising revenue increased 20 percent to $451.7 million, in the second quarter ended June 30, helped by the acquisition of video advertising platform Adap.tv and increased "programmatic" advertising.
AOL Inc. (AOL) is a global Web services company with a range of brands and offerings, and a global audience. Shares of AOL fell by 0.54% or $-0.21/share to $39.00. In the past year, the shares have traded as low as $32.19 and as high as $53.28. On average, 1372320 shares of AOL exchange hands on a given day and today's volume is recorded at 1500687.
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