×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: AOL | Shares | Barclays | Profit

AOL Shares Jump as Barclays Sees Strong Profit Growth

Wednesday, 27 March 2013 03:59 PM EDT

Shares of AOL Inc., the publisher of websites such as the Huffington Post and TechCrunch, climbed the most in more than a month after Barclays Plc said profit will grow faster than analysts’ estimates.

AOL shares rallied $3.03, or 8.4 percent, to end Wednesday at $39.20, according to preliminary figures in New York. The intraday gain was the biggest price increase since Feb. 8. The shares had climbed 22 percent this year through Tuesday, outpacing the Standard & Poor’s 500 Index’s 9.6 percent rise.

Cost-cutting and modest revenue growth are helping AOL boost profits, Anthony DiClemente, a Barclays analyst, said in a research note Wednesday. The company can add $100 million of annual profit alone if it shuts down its local-news network, Patch, or breaks even with the division by 2014, DiClemente said.

Profit will jump 34 percent this year to $441 million, leaving out interest, taxes, depreciation and amortization, Barclays estimated. The average analyst estimate compiled by Bloomberg calls for 30 percent growth.

© Copyright 2024 Bloomberg News. All rights reserved.


InvestingAnalysis
Shares of AOL Inc., the publisher of websites such as the Huffington Post and TechCrunch, climbed the most in more than a month after Barclays Plc said profit will grow faster than analysts' estimates.
AOL,Shares,Barclays,Profit
164
2013-59-27
Wednesday, 27 March 2013 03:59 PM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved