IAC Reports Better Than Exected Revenue, 46% Growth At Ask.com

IAC/InterActiveCorp reported earnings Tuesday, and the Ask.com parent beat earnings estimates by posting a 67 cents a share profit, compared with analyst estimates of 52 cents. Not all was well, though, as net income on continuing operations was hit bad by a write down of the coupon division, dropping 98% from $119.5 million to $2.69 million compared with last year’s fourth quarter (total net income fell from $113.1 million to $16.7 million).
Total revenue was $1.823 billion, up 7.8% from $1.691 billion a year earlier. Total revenue for 2006 was $6.277 billion, up from $5.416 billion in 2005, a 15.9% increase. The Media and Advertising division, which is made up of Ask.com, Citysearch and Evite, saw revenue grow from $109.5 million to $159.8 million, a 46% increase. Operating income was also up 81%, from $7.7 million to $13.9 million.
(via SELand)
IAC stock has been doing very well the […]

Original post by Nathan Weinberg