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AOL showed signs of life in its Q2 2012 earnings report today, beating Wall Streets expectations and sending a clear signal that the company is doing well under CEO Tim Armstrong.

AOL reported revenue of $531 million for the quarter, a two percent decline compared to the same period last year. Analysts were predicting the company would report $519 million. The decline rate is the slowest for AOL in seven years, the company point’s out.

The media/web portal company’s total traffic was 112 million unique visitors for Q2, which is a four percent boost compared to last quarter and five percent ahead of Q2 2011.

“Today’s results represent a significant milestone for AOL as we returned to Adjusted OIBDA growth for the first time in four years,” Armstrong said in a statement. “The strong results and consumer performance we announced today are clear signs our strategic and operating efforts are translating into significant financial progress.”

Checkout a summary of the numbers below. We expect Armstrong to go more in-depth about his small success during the earnings call later today.