IAC/InterActiveCorp (NASDAQ:IACI) reported net income above Wall Street’s expectations for the second quarter. IAC operates internet businesses in the United States and a number of jurisdictions abroad. Its businesses segments are: Search, Match and ServiceMagic and Media & Other.
IAC/InterActiveCorp Earnings Cheat Sheet for the Second Quarter
Results: Net income for the catalog and mail order house rose to $42.4 million (44 cents per share) vs. $13.6 million (12 cents per share) in the same quarter a year earlier. This is a more than threefold rise from the year earlier quarter.
Revenue: Rose 20.5% to $485.4 million from the year earlier quarter.
Actual vs. Wall St. Expectations: IACI reported adjusted net income of 62 cents per share. By that measure, the company beat the mean estimate of 26 cents per share. It beat the average revenue estimate of $463.4 million.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past five quarters. Over that span, the company has averaged growth of 19.9%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 25.3% from the year earlier quarter.
The company has now beaten estimates the last two quarters. In the first quarter, it topped expectations with net income of 22 cents versus a mean estimate of net income of 14 cents per share.
Competitors to Watch: Google Inc. (NASDAQ:GOOG), Yahoo! Inc. (NASDAQ:YHOO), AOL, Inc. (NYSE:AOL), Answers Corporation (NASDAQ:ANSW), Microsoft Corporation (NASDAQ:MSFT), Demand Media Inc (NYSE:DMD), Baidu.com, Inc. (NASDAQ:BIDU), InfoSpace, Inc. (NASDAQ:INSP), The Knot, Inc. (NASDAQ:KNOT), and Sohu.com Inc. (NASDAQ:SOHU).
(Source: Xignite Financials)