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@ 2014/05/09Media company AOL said that it turned in revenues of $583.3 million for its financial first quarter.
But profits fell by 64 percent compared to the same period last year, with share prices showing a marked drop yesterday. AOL turned in a profit of $9.3 million, down from $25.9 million in the quarter last year.
AOL is trying to re-engineer itself as a compamy specialising in advertising technology but that’s a risky strategy, given the competitive nature of that sector.
The company claimed that investments in new technology accounted for the large drop in profits.
But profits fell by 64 percent compared to the same period last year, with share prices showing a marked drop yesterday. AOL turned in a profit of $9.3 million, down from $25.9 million in the quarter last year.
AOL is trying to re-engineer itself as a compamy specialising in advertising technology but that’s a risky strategy, given the competitive nature of that sector.
The company claimed that investments in new technology accounted for the large drop in profits.
