The beleaguered internet provider squeaked out fourth quarter earnings that were better than expected in February. However, AOL is still drawing poor profit returns from major online publishing purchases such as TechCrunch and The Huffington Post (bought last year for $315 mil).
AOL’s fourth-quarter net income declined 65 percent from a year earlier to $22.8 million on sales of $576.8 million.
Earlier this month, AOL let go of more than 40 employees, with approx another 100 expected by the end of the month
Many of AOL’s patents cover Internet advertising and communications services, and Evercore is trying to help the company wring value from a patent portfolio that AOL shareholder Starboard Value LP said may yield more than $1 billion in licensing income.