The internet portal AOL earns 86% less in the first quarter

(Best Growth Stock) – The internet portal AOL announced today that during the first quarter of 2011 earned $ 4.7 million, 86% less than the same period last year, though its graphic advertising revenues rose for the first time in over three years.

The company, which in March completed its purchase of the online newspaper The Huffington Post for $ 315 million and in January announced the purchase of portal video distribution GoViral for $ 97 million, is undergoing a restructuring to try to get his business afloat.

Between January and March this year, the company earned 4 cents per share, compared with 39 cents the same period last year, when it earned $ 34.7 million.

The company’s total turnover was U.S. $ 313.7 million in the first quarter of this year, 11% less than last year, driven mainly by a decline of 24% of its income from subscriptions and 11% of those advertising.

However, for the first time in over three years, the company managed to score a rise in advertising revenue or graphical display, which rose to U.S. $ 130.5 million, up 4% over the $ 125.6 million the same period last year.

These findings “represent an important milestone in the process of turning around AOL, as the graphic advertising revenues rose for the first time since the last quarter of 2007,” he said in a statement published these results to the President and CEO company, Tim Armstrong.

“I am proud of the work done so far and we remain focused on accelerating our drive for continued execution of our strategy to become the first digital content company,” said Armstrong.

The increase in display advertising revenue was well received by investors in the New York Stock Exchange when the results were announced, that rewarded with an advance of up to 10% on your actions.

However, an hour before the close of trading, the company’s shares lost 1.37% to be exchanged for U.S. $ 20.12, while so far this year have lost 15.01% of its value traded.