Barry Diller just beat the street. IAC/InterActiveCorp reported a net loss of $18.7 million, or 16 cents per share, for the first quarter of 2010. That’s compared with a net loss of $28.4 million, or 19 cents per share, during the same period last year.
Overall revenue for company got a 16% boost, to $385.9 million, ahead of Thomson Reuters analyst forecasts of $350.2 million.
Online advertising bounced back for the company, thanks to their Ask.com, Citysearch and its ServiceMagic business. Ad revenue in search jumped 20% to $199 million.
Media businesses, includes ShoeBuy.com and video-sharing site Vimeo, got a 20% revenue rise to $55.9 million. Retailer site Pronto also grew during the quarter.
From the release:
- Search: Queries have grown sequentially over the past six quarters. Dictionary.com reached the 10 million mobile download milestone. Active toolbars increased over 20% sequentially and 65% year-over-year to 83 million.
- Local: CityGrid added more than 150 new publishers since launching its developer centre on January 29th, and added Dex One as a major reseller partner, bringing the total number of reseller partners to 10. ServiceMagic grew domestic service providers 26% year-over-year, including the addition of service providers in new categories such as events and senior care.
- Personals: Match continued to grow domestic subscribers strongly; closed a joint venture with Meetic in Latin America and acquired Singlesnet, one of the most visited online dating websites in the world.
- Media: The Daily Beast produced the Women in the World summit which brought together 300 global leaders from government, media, social activism, business and the arts. Electus announced an initiative to develop and produce an interactive telenovela, ‘Pedro & Maria,’ in conjunction with MTV and Procter & Gamble.
During the last quarter, IAC wrote down $992 million of the value of its search business, reflecting its lousy-at-best future.
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