AOL Stages Comeback of the Year
This year, while everybody was talking about Facebook’s IPO or Apple’s stock price, a former internet phenomenon staged a remarkable comeback: AOL.
With last year’s acquisition of the Huffington Post, a billion dollar patent deal with Microsoft and improving results, the former internet powerhouse has quietly become a Wall Street darling. On November 21, the company’s stock closed at $35.60, up 135 percent since the beginning of the year. The recently released third quarter results were encouraging, as ad revenues showed the highest growth in 7 years and the company posted earnings of 22 cents per share.
It will be interesting to see, whether AOL will be able to carry the positive momentum into next year. For now it looks like there’s life in the old dog yet.
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