AOL Online Media Properties Still Hemorrhaging Money

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America Online-owned The Huffington Post, TechCrunch and Patch continued to drag down AOL's financial performance during Q1, according to reports by TheStreet.com and CNBC.com.

Despite overall revenue growth of 2 percent, sales plunged 9 percent at AOL's dial-up online subscription division. The HuffPo/Patch/TechCrunch division was bathed in red ink to the tune of $4.9 million based on First Quarter results.

The media giant's CEO Tim Armstrong maintains a positive attitude toward his acquisitions of the three entities, but on Wall St., AOL stands for Armstrong's Operating Losers.