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AOL misses on revenue, beats earnings forecasts

AOL delivered mixed results during the fourth quarter, beating Wall Street on earnings but missing on revenue. For the fourth quarter, AOL reported revenue of $710 million, up 5% from the previous year, but below the $721 million estimated by analysts. Earnings per share reached 92 cents, beating estimates of 72 cents.

Shares of AOL skidded 9.6% in afternoon trading. Revenue from global advertising was up 8% compared to last year, lead by bumps in programmatic and native advertising.

“AOL is building leading assets in the fastest growing areas of media technology and we are aggressively moving the company forward in 2015,” said AOL chief Tim Armstrong in a statement Wednesday. For the 2014 fiscal year, AOL reported revenue of $1.92 billion, up 15% from the previous year.