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AOL search ad sales increase

The Web portal said Q3 EPS swung to a 22-cent profit from a loss of 2 cents in '11. Analysts were expecting 17 cents. Sales were flat at $531.7 mil, but beat views. AOL (AOL) said its overall ad revenue rose 7% to $340 mil. Search ad revenue rose 8% to $91.8 mil. Display ad sales fell 1%. AOL's local news initiative, Patch.com, saw its traffic jump to 11.9 mil unique visitors in Sept., up 19% from a year ago. Shares rose 22% to 43.70.