AOL, owner of the Huffington Post and TechCrunch, rose to its highest value since it was spun out of Time Warner in 2009, after an increase in advertising revenue and a one-time gain on a patent sale helped the company return to a profit (23 cents a share) in the second quarter.

Net income was $970.8 million, or $10.17 a share, compared with a loss of $11.8 million, or 11 cents a share, a year earlier.

AOL advanced 7.2 percent to close at $29.48.