Earlier this morning, AOL reported its fourth quarter earnings results, and for shareholders, there's both good news and bad news. The good: the company beat most analysts' expectations. The bad: a column documenting year-over-year changes is still almost full of double-digit negative numbers. Indeed, total revenue decreased 26 percent compared to the fourth quarter of 2009, advertising revenue fell by the same amount, and free cash flow plunged by 38 percent, none of which is encouraging.