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IAC reports higher growth on About.com and Ask.com

July 30 | Tue Jul 30, 2013 4:58pm EDT

July 30 (Reuters) - Barry Diller's IAC/Interactive Corp reported on Tuesday higher revenue and net income because of growth at its websites such as Ask.com, Dictionary.com and About.com

Total revenue for the second quarter jumped 17 percent to $799.4 million, well ahead of analysts expectations of $781.6 million, according to Thomson Reuters I/B/E/S.

Almost half of the company's revenue comes from its Search & Applications division including About.com and Ask.com. Revenue grew 23 percent to $427.4 million. That includes $36.7 million in revenue for About.com, which was acquired from The New York Times Co in 2012 and was not included in the prior year period.

IAC also operates a clutch of dating sites including Match.com, where revenue increased 9 percent to $194.3 million in the second quarter.

Revenue at its media division for its properties Vimeo, Electus and Tina Brown's News Beast rose 51 percent to $58 million. Operating loss for the division narrowed to $3.5 million from $6.8 million in the year ago period.

For the second quarter, IAC posted net income of $58.3 million, or 67 cents per share, compared with $43.3 million, or 47 cents per share in the same period a year ago.

Adjusted for items, EPS was 95 cents per share, in line with analysts' estimates.

 
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