AOL enjoys $531 million revenue for Q2, has been its lowest revenue decline in 7 years

AOL reported their Q2 earnings report, seeing revenues of $531 million. This makes it AOL's lowest total revenue decline in seven years, with a 2-percent year-on-year decrease.

AOL's legacy income, such as mobile carrier revenues and subscriptions continued to fall, but it was offset by growth in international display advertising and third-party network revenues. Operating income was boosted by the $96 million AOL made from licensing patents to Microsoft.

But, AOL have insisted that its EIBDA grew regardless of this deal with Microsoft, saying that "excluding those items, the remaining Q2 2012 Adjusted OIBDA of $94.6 million reflects an increase of $18 million year-over-year." AOL chairman and CEO, Tim Armstrong said:

Today's results represent a significant milestone for AOL as we returned to Adjusted OIBDA growth for the first time in four years. The strong results and consumer performance we announced today are clear signs our strategic and operating efforts are translating into significant financial progress.

AOL have also said that their traffic is growing, and not just in video views and revenue, which according to the company "grew at triple-digits year-over-year" in Q2 2012, but also its local news network Patch. AOL have said that "Patch grew traffic and engagement at double-digit rates year-over-year and quarter-over-quarter, while revenue grew over 100% year-over-year in Q2 2012."

Overall, AOL reported that its properties saw 112 million unique visitors in Q2, representing a 4-percent growth from Q2 2012, and a 5-percent growth over Q4 2011.