Maybe AOL should engage in proxy fights with activist investors more often. In the same quarter that the company grappled with Starboard Value over the makeup of AOL’s board and standing of its Patch business, AOL returned “the lowest decline in revenue in seven years,” CEO Tim Armstrong said during an second-quarter earnings call this morning. As Armstrong noted, while overall revenue was still down–dipping 2 percent year-over-year to $531.1 million, but beating Wall Street projections—global advertising revenue continued an upward trend, and AOL showed it may have begun to stanch the bleeding from its dead-weight subscription business. Global advertising revenue—63 percent of AOL’s business—saw its fifth straight quarter of…