Shares of AOL witnessed the best day in almost 16 months after the mass media communications company posted quarterly results, much better than analysts' estimates.

The company has seen an exceptional growth in ad and search revenues, resulting into rapid rise to their highest level since February to $43.42 apiece. The surge in stock price accounted for 10.23%, bringing the stock's highest gain since January last year.

Data compiled by Bloomberg analytics showed that quarterly profits were recorded at $0.34 per share. The jump in profit surpassed the analysts' consensus expectation of $0.32 per share. The company's initiatives towards automation of its advertising segment have played the key role in its accelerated growths in revenues.

The use of high-powered machines to purchase and sell advertisement space on the company's websites such as TechCrunch and Huffington Post, and its online video service AOL On proved worth the effort for the company's advertising segment.

Nearly half of the company's non-search ads were generated globally by automated advertising. The technology, ONE by AOL, was launched by the company just a month before to provide a way to marketers to direct their money towards advertising spaces that would maximize their revenues.

"The idea behind automating its ad technology is to bring more data to the advertising, which makes the ads better and more effective, and consumers like them better", said Tim Armstrong, AOL's chief executive, in an interview to Bloomberg.

The mass media company said that it managed to deliver performance amid restructuring. The company is making efforts in investing in its websites to try and reach a global audience.