In its first earnings call since acquiring The Huffington Post in March for $315 million, AOL reported this morning that its first-quarter profit fell 86% to $4.7 million, down from $34.7 million a year ago. The integration — which includes $27.8 million in restructuring expenses related to the HuffPo deal and the reassessment of operations in India — also impacted revenue, which was down 17% to $551.4 million. Still, shares were up in early trading today after the company said its U.S. display advertising business is showing signs of life, up 11%. “Today represents an important milestone in the turnaround of AOL as global display-ad revenue grew for the first time since Q4 2007,” chairman and CEO Tim Armstrong said. “I am proud of the work completed thus far, and we remain focused on accelerating our momentum through continued execution of our strategy to become the premier digital content company.”