This morning, AOL (NYSE:AOL) reported second quarter earnings of $28.5 million, or 35 cents per share, as revenue climbed to just over $541 million. Earnings were lower year-over-year as the company recognized a $970 gain on a patent transaction with Microsoft in the same quarter last year, but the company noted that earnings excluding those items were stronger on a per share basis. The company also announced that it had acquired Adap.tv for $405 million to expand its online video business. Investors were encouraged by the strong second quarter results and the acquisition, sending shares higher in early trading.
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