IAC Reports Increased 2Q Revenue, Growth at Dictionary.com

Reuters

Barry Diller's IAC/Interactive Corp (NASDAQ:IACI) 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.

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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.