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Market: NASDAQ
Sector: Internet
EPIC: IACI
Latest Price: 45.23  (0.89% Ascending)
52-week High: 50.67
52-week Low: 34.34
Market Cap: 3,433.70M
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IAC (InterActiveCorp)
www.iac.com

IAC/InterActiveCorp. (IAC) is an Internet company with more than 50 brands serving consumer audiences across more than 30 countries.

Full IAC (InterActiveCorp) profile here
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IAC rallies on strong revenues from dating website Match.com

27th Oct 2010, 3:03 pm
IAC rallies on strong revenues from dating website Match.com

Internet company IAC/InterActiveCorp (Nasdaq: IACI), responsible for the likes of Match.com, Evite and Ask.com, beat analyst estimates despite posting a 19% decline in third quarter profits on Wednesday, due primarily to gains from divestments in the prior year quarter, the company said.

For the third quarter in 2010, the company had profits of $17.5 million, or $0.16 per diluted share, down from $21.7 million, or $0.16 per diluted share, in the prior year period. However, IAC said 2009 figures included a $35.0 million gain from the sale of certain equity interests.

On an adjusted basis, the company recorded earnings per share of $0.32, compared with $0.34 a year earlier.

Revenue increased 25% in the third quarter to $421.7 million, topping Wall Street estimates of $399 million on adjusted earnings per share of $0.27.

The company's Match segment, which includes online dating website Match.com, posted a 31% increase in its sales to $106.2 million, fueled primarily by organic growth at Match.com US and People Media, as well as by the acquisition of Singlesnet and the company's venture with Meetic in Latin America.

The division that provides Search services, which includes toolbars and other destination websites such as Ask.com, Dictionary.com and DailyBurn.com, saw a 20% rise in sales during the third quarter, helped by growth in queries from new and existing partners, the company said.

As at September 30, 2010, IAC had approximately $1.4 billion in cash and $95.8 million in long-term debt.

The company was up more than 5% on Wednesday morning, trading at $27.9 as of 9:49am ET.

IAC has more than 50 brands on the internet, serving consumers across more than 30 countries.

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