Patch Misses 2012 Revenue Target
Posted: 2/11/2013  |  By: Steven Jacobs | Street Fight Mag
Patch missed the $40 million to $50 million revenue target set by AOL for 2012, which CEO Tim Armstrong attributed to disruption from superstorm Sandy in the fourth quarter during a Friday earnings call. The company remains committed to achieving run-rate profitability for the hyperlocal network by the end of 2013 — a goal being reached, in part, through continued cutbacks implemented since Armstrong first announced the projection in last year’s second quarter.