Strong dollar 'one of the mega-trends': AOL chief

The stronger dollar is "one of the mega-trends" affecting corporate earnings, but the impact at AOL has not been that severe, CEO Tim Armstrong told CNBC Wednesday, shortly after the company released mixed quarterly results.

"There's definitely an FX effect," he said in a "Squawk Box" interview, but adding that international revenues account for under 20 percent. "The effect on ours is probably more muted than people [who] have huge international businesses."

Excluding items, AOL reported earnings of 92 cents a share, compared to 64 cents per share in the year-earlier period. Revenue rose to $710.3 million from $679.0 million.

Analysts had expected AOL, owner of the Huffington Post and the TechCrunch blog, to report earnings excluding items of about 72 cents per share on $722 million in revenue, according to a consensus estimate from Thomson Reuters.

Shares of the company moved higher in premarket trading following the announcement. (Get the latest quote here.)

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AOL has been the subject of numerous rumors of acquisitions and sales recently, including one report that Verizon was potentially interested in buying up the company.

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Less than a month before those rumors emerged, some suggested that AOL may be looking to merge with Yahoo—a plan that had been batted around a few times before.

Addressing those rumors, Armstrong told CNBC on Wednesday he's only focused on AOL as a business. He did say, however, that "AOL gets mentioned in a lot of conversations because we've transformed the company from a laggard to a leader in the most important parts of the Internet."

—CNBC's Everett Rosenfeld and Reuters contributed to this report.