(Telecompaper) AOL revenues in the fourth-quarter 2012 grew year-over-year for the first quarter in eight years, rising 4 percent to USD 599.5 million thanks to advertising revenue growth. Ad revenue grew 13 percent to USD 410.6 million from USD 363.8 million a year earlier, while subscription revenue declined 10 percent to USD 174.2 million. Fourth-quarter adjusted OIBDA decreased 7 percent USD 123.3 million, and operating income increased 24 percent to USD 68.2 million. Net income was up 57 percent to USD 35.7 million, and diluted EPS increased 78 percent to USD 0.41. Free cash flow in the quarter decreased 36 percent to USD 46.3 million.