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AOL announced its first quarterly earnings<\/a> today as a newly public company. Fourth quarter revenues dropped 8% to $471.6 million, and turned a profit of $1.4 million (see the slides below). Notes from CEO Tim Armstrong’s first conference call are below. He laid out AOL’s strategy, warned that sales would probably be dampened this quarter as a result of reducing a third of its workforce and noted that “AOL is not a quarterly project.” He also said that AOl will pursue new paid subscription services in the future.<\/p>\n Here are my live notes:<\/p>\n Tim Armstrong<\/strong>:<\/p>\n We have an aggressive strategy, starts and ends with execution, <\/p>\n We have gone through major cost reduction, reducing one third of workforce Most important thing, we put the heartbeat and will to win back into AOL<\/p>\n Strategy we are going after Some major items on the checklist 7. recur<\/p>\n It is difficult to remove a third of workforce without some impact, may see some dampening on ad sales, AOl is not a quarterly project.<\/p>\n Request-AOL Q4 2009 Earnings Presentation<\/a> \t<\/p>\n
\nbuilt and designed Seed, our new content management system
\ncleaned up Mail (fewer ads)
\nadding to management team,
\nrecent acquisition of StudioNow
\na new middle market sales team
\nredesigned sales process,
\nreignited AOl\u2019s brand with agencies,
\ncompleted spinout from Time Warner. <\/p>\n
\n1.\tin content, building content platforms for journalists on the web, matching technology with content can capture large audiences.
\n2.\t2. In advertising want to help brand advertisers transition to the Web
\n3.\t3. Communications, working on new platform
\n4.\t4. Paid services, we will be testing services and subscriptions in 2010<\/p>\n
\n1 scale content production and content partnerships
\n2 launch anew brand platform
\n3. scale the number of local communities
\n4. stop decline of communications products and launch new ones
\n5. launch paid services<\/p>\n![](\"http:\/\/www.stoth.com\/wp-content\/plugins\/wp-o-matic\/cache\/59ae7_AOLQ1slide.png\")
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