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AOL stock shot higher Wednesday on its better-than-expected earnings report , thanks to advertising growth and slower subscriber churn. CEO Tim Armstrong told CNBC he sees that advertising growth continuing.
Immediately after the call with investors, Armstrong talked to CNBC in an exclusive interview about what’s driving these numbers and what lies ahead.
Armstrong was optimistic and upbeat, noting that results improved from the first quarter to the second quarter. He expects them to continue to improve over the course of the year.
He’s committed to investing to expand AOL’s ad business where he sees the biggest payoff: video, premium ads, and mobile ads. And he’s generally optimistic, saying that despite economic uncertainty , he expects there to be a “tailwind across digital advertising.”
“Video, premium formats and local are growing quickly and we think those are going to be the growth engines of the future in advertising,” Armstrong said. Things are even looking good in Europe , he said, because AOL is starting from such a small base.
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