Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

IAC Climbs as Profit Tops Estimates on Search: New York Mover

IAC/InterActiveCorp, the operator of websites such as and, rose the most in five months after a surge in Internet queries on its sites helped second-quarter profit beat estimates.

The shares gained 6 percent to a record $51.18 at the close in New York. The New York-based company’s stock has climbed 20 percent this year.

The company, founded by billionaire Barry Diller, saw revenue from its search business climb 46 percent to $348.8 million. Investors have been intent on the company expanding in that market, where plays a small role compared with Google Inc., said Victor Anthony, an analyst with Topeka Capital Markets Inc. in New York.

“It’s extremely important,” Anthony said before the results were released. “They’re seeing more traffic from people who are looking for an alternative to Google.”

Excluding some items, earnings rose to 86 cents a share from 62 cents a year earlier, IAC said today in a statement. Analysts had projected 71 cents on average, according to data compiled by Bloomberg. Revenue climbed 40 percent to $680.6 million.

Second-quarter net income rose 2.1 percent to $43.3 million, or 47 cents, from $42.4 million, or 44 cents, a year earlier. The company also reported a 53 percent rise in online-dating revenue, with and related sites posting sales of $178.4 million.

Website queries rose 38 percent to 7.26 billion, while paid subscribers to dating sites increased 45 percent to 2.79 million. IAC’s ServiceMagic business, which helps users find contractors, also had gains.

In its media unit, IAC recently gained a controlling stake in Newsweek/Daily Beast Co., a company formed last year from the merger of an online startup and Newsweek magazine. IAC owned half of the company until the trust of late billionaire Sidney Harman stopped making contributions, diluting its stake.

Download: Earnings

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.