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Oct. 31, 2007 at 9:50am Eastern by Barry Schwartz
Ask.com Helps IAC Earn 40% Increase In Q3 2007 Media Revenue
IAC Reports Q3 Results from CNNMoney reports that IAC saw a 4.2% decline in net income year over year. Here is IAC's press release for the third-quarter numbers this year.
But if you pull out Ask.com, IAC's search engine, which is part of IAC's Media & Advertising group, you will see that sector saw an increase of 40% in revenue and a positive net this past quarter. In Q3 2007, the Media & Advertising group saw revenues of $189.8 million up from $135.5 million in Q3 2006, plus operating income this past quarter was $15.4 million, up from a loss of $2.1 million last year.
The Media & Advertising group consists of IAC Search & Media, Citysearch, and Evite. IAC Search & Media consists of proprietary properties such as Ask.com and Fun Web Products, and network properties which include syndicated advertising, search results, and toolbars.
IAC Chairman and CEO Barry Diller said:
With the exception of Lending Tree, this was a satisfactory quarter for IAC. Trends at our businesses are good, and particularly so at HSN, where I believe that Mindy Grossman and her team have now become acclimated and are beginning to demonstrate the great retailing smarts that we knew they were capable of.
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By Barry Schwartz
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