AOL First-Quarter Earnings Drop

AOL on Wednesday reported improved first-quarter revenue, but lower earnings.

The online company, led by CEO Tim Armstrong, said its earnings amounted to $9.3 million, compared to $25.9 million in the year-ago period, down 64 percent. The company said charges worth $22 million tied to software development costs dragged down the earnings.

For more on this story visit: Georg Szalai, Hollywood Reporter