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AOL Revenues Increase, Profits Plummet

AOL logo GAOL reported its third quarter earnings today. The good news is that revenue increased by six percent, from $532 million last year to $561 million this year. The bad news is that profits dropped 90 percent, to only $2 million.

The decline in net income was mostly due to Patch, AOL’s hyperlocal news sites that never quite panned out. AOL reported a $19 million┬ápretax restructuring cost and a $25 million impairment charge, both related to Patch.

At some point, you would think AOL would stop the Patch experiment. The company regularly cuts employees and even shutters sites, yet Patch continues to be deadweight.

Tim Armstrong, AOL’s CEO, is either much smarter than everyone realizes, or much more naive. He claims that Patch will be profitable by the end of the year. Somehow, we just don’t see that happening.

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Lauren Berger Writes New Book for Young People Entering "Real World"

Lauren Berger Welcome to the Real WorldCareer Expert, Lauren Berger, releases her second book, Welcome to the Real World: Finding Your Place, Perfecting Your Work, and Turning Your Job Into Your Dream Career (Harper Business), on April 22nd. In this book, Berger shares everything she wishes someone told her after graduation. Her book is the essential guide to anyone starting their first, second, or third job. She encourages readers to be fearless, step outside of their comfort zones, and go after what they want.