AOL Dream State Disclosure

AOL (AOL) seems to be in a dream state when reporting Q1 results. Tim Armstrong, Chairman and Chief Executive Officer was quoted as saying AOL continues to make progress against our long-term objective of becoming an internet growth company.

What is an internet growth company? What services do you provide? Why does someone use you? The terminology is a throw back to the dot com bubble. Investors should worry about the Tim Armstrong mindset.

Speaking of growth, revenue is down 23%, net income down 58% and free cash down 55%. Internet growth story? Well the cash burn looks familiar. But we all know how that turns out.

If a lot of AOL costs are restructuring why was this not done before the IPO? Time to review disclosure from TimeWarner. Where are the lawyers on this one?

Disclosure: No position in this stock