AOL’s second-quarter revenue was down 2 percent year over year, but that’s the smallest drop in 7 years

AOL’s second-quarter haul, posted Wednesday, beat analysts’ expectations. The company reported earnings of $10.17 per share on revenue of $531 million. Wall Street predicted AOL would take in $519 million over the three-month period.

Although AOL reported 2 percent less revenue than the year-ago quarter, the company noted that the decline was its smallest in seven years.

What’s more, total traffic was up 5 percent year over year to 112 million unique visitors.

In a statement, AOL CEO Tim Armstrong said, “Today’s results represent a significant milestone for AOL as we returned to Adjusted OIBDA growth for the first time in four years. The strong results and consumer performance we announced today are clear signs our strategic and operating efforts are translating into significant financial progress.”

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