7 Nov 2012

Rise in revenue reported by AOL

10:08 am on 7 November 2012

Shares in AOL jumped 14% on Tuesday after the US internet firm reported a sharp rise in advertising revenues.

Advertising sales were up 7% to $US340 million, boosting net profit for the third quarter to $US20.8 million, compared with a loss of $US2.6 million a year ago.

Overall revenue was flat at $US531.7 million.

However, subscriptions during the quarter fell by 10% against a year earlier.

AOL was spun-off from Time Warner in 2009.