AOL Beats Estimates With 61 Cent EPS (AOL)

New York, New York-based AOL Inc.

announced on Wednesday morning that it beat consensus Wall Street estimates. AOL Inc reported that its 4th quarter net income rose to $66.2 million, or 61 cents per share, up from $1.4 million, or 1 cent per share, a year earlier. AOL Inc reported revenue of $596.0 million, down 26% from $806.7 million a year earlier. According to a survey of analysts by Thomson Reuters, the average Wall Street estimate called for earnings of 42 cents per share, on revenue of $587.37 million. Chairman and CEO Tim Armstrong said, "I am very proud of what we accomplished in 2010 as we began the year with a significant restructuring of AOL and ended the year with a significantly improved balance sheet, a number of exciting new products and a new culture focused on winning. We have set aggressive goals for ourselves in 2011 in pursuit of capturing the growing opportunity ahead of us.” AOL Inc. (

) closed the previous trading day at $23.85 per share. Analysts covering the company's stock give it a consensus price target of $26.82 per share. AOL Inc is a leading global Web services company with an extensive suite of brands and offerings and a substantial worldwide audience. AOL's business spans online content, products and services that the company offers to consumers, publishers and advertisers. Read more