Deals
AOL Climbs After Quarterly Profit More Than Doubles
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AOL Inc., the Internet company spun off from Time Warner Inc., advanced in New York trading after saying third-quarter profit more than doubled and predicting industry-level growth in U.S. display-ad sales next year.
Net income climbed to $171.6 million, or $1.60 a share, bolstered by gains on asset sales, New York-based AOL said today in a statement. Sales fell 26 percent to $563.5 million, topping the $558.1 million average of analysts’ estimates.