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AOL shares tumble after Q1 profit miss

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Investors sent shares of AOL Inc. (NYSE: AOL) plummeting as much as 11 per cent after the company missed earnings estimates.

Net income climbed 23 per cent to $25.9 million in the first quarter. On a per share basis, AOL earned $0.32 per share, up from $0.22 per share last year but three pennies short of the analyst consensus.

Total revenue of $538.3 million rose two per cent year-over-year and was on pace with analyst estimates. A nine per cent rise in global ad sales was offset by a nine per cent drop in subscription revenue. 

Shares recovered from the day's low at midday, trading $3.56 lower at $37.86.

 

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