With AOL Set to Report Q2 Earnings Tomorrow, Tim Armstrong’s Feeling Closer to Fine (Video)
When I was in New York last week, I got a chance to sit down with AOL CEO Tim Armstrong, the former not-Marissa-Mayer Googler, to talk about how it’s going in his thankless efforts to turn the New York-based Internet company around.
Unlike Mayer, who is just getting started at fixing what ails Yahoo, Armstrong has been at the job for some time now and finally seems to be getting some traction.
He talked about that and more in a video interview with me (which we did at Manhattan media-maven lunch spot Michael’s), including how it’s going with his always watchable acquisition of the Huffington Post and its eponymous founder Arianna Huffington.
Armstrong was feeling upbeat due to recent improvements in AOL’s business, as well as the lucrative sale of some patents and a victory over an activist shareholder proxy battle.
But, as usual, investors will need to focus on AOL’s performance, which will be on display in the morning when it reports its second-quarter earnings tomorrow at 5 am PT.
AOL beat expectations by 11 percent in the last quarter and Wall Street analysts expect the company to earn 10 cents per share, which has been guided down recently.
Still, because of all the recent good news, AOL’s stock has been up 82 percent since the beginning of the year, although it did drop 1.6 percent this past week.
Also important to tomorrow’s report is whether AOL can stem persistent revenue decreases in this quarter. Analysts are now expecting revenue of nearly $519 million for the period.
Here’s Armstrong chatting about the possibility that he can finally say that his long-suffering turnaround is actually turning: