Bloomberg the Company & Products

Bloomberg Anywhere Login


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 News

IAC Earnings Beat Estimates on Dating, Search Site Traffic

February 01, 2012

(Updates with closing share price in fifth paragraph.)

Feb. 1 (Bloomberg) -- IAC/InterActiveCorp, the operator of websites including and, reported fourth- quarter profit that topped analysts’ estimates as search traffic increased and online dating won more users. The stock climbed.

Earnings, excluding some items, rose to 70 cents a share, the company said today. Analysts predicted 54 cents, the average of estimates compiled by Bloomberg. Sales gained 32 percent to $596.9 million, exceeding the $565.7 million analysts projected.

Barry Diller, billionaire chairman of the company which operates more than 50 websites, is building digital content and service-oriented businesses as he expands New York-based IAC. Revenue at its search-engine business, which includes and Mindspark, rose 35 percent to $319.5 million.

“Everyone remains gaga over Google, but in fact IACI has the fastest-growing search business,” said Sandy Mehta, an analyst at Hong Kong-based Value Investment Principals Ltd., which holds stock in the company. “There appears to be no slowing down.”

IAC rose 6.3 percent to $45.78 at the close in New York. The shares gained 48 percent last year.

At Match, IAC’s online-dating unit, revenue gained 46 percent on a 51 percent jump in paid subscribers. In December 2010, IAC named Greg Blatt, head of the Match business, as chief executive officer.

Net income fell 44 percent to $48.8 million, or 53 cents a share, from $87 million, or 90 cents, a year earlier, when profit was boosted by one-time gains. IAC said it will pay a quarterly dividend of 12 cents a share on March 1.

IAC made accounting mistakes with a deferred income tax liability in 2002 and corrected some financial statements, according to a regulatory filing from the company today. The errors didn’t affect earnings.

--Editors: Ville Heiskanen, John Lear

To contact the reporter on this story: Beth Jinks in New York at

To contact the editor responsible for this story: Peter Elstrom in New York at

blog comments powered by Disqus