Profits Up, Revenue Down At AOL

CEO Tim Armstrong announced that AOL’s profits for 2010 were up, despite an overall drop in revenue, MarketWatch reported.

“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,” Armstrong said in a statement. “We have set aggressive goals for ourselves in 2011 in pursuit of capturing the growing opportunity ahead of us.”

Total revenue at AOL was down 26% and subscription income was down 23% as people stop using the company to access the web.

“Building traffic, display and local are key focus areas, according to Armstrong. The three are entwined. As AOL aims to significantly increase pageviews on its properties, including local content network Patch, it hopes to generate higher CPMs as a result. A leaked document published by Business Insider yesterday details the company’s approach to building pageviews and traffic through SEO- and trending topic-driven content development,” ClickZ reported.

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