Barry Diller's IAC Beats Quarterly Earnings Expectations
The company behind 150 brands, like Vimeo and Match.com, reported a 23 percent rise in second-quarter revenue.
Barry Diller's IAC bested expectations when it reported Tuesday that revenue rose 23 percent to $799.4 million and adjusted earnings climbed to 95 cents per share in the second quarter. Net earnings rose 35 percent to $58.3 million.
Analysts had expected the company to earn 83 cents a share on revenue of $781.6 million.
IAC said growth was driven by Match.com and smaller, similar sites like Meetic and OkCupid, as well as its "search and applications" unit.
New-media studio Electus also performed well, as did digital video platform, Vimeo.
IAC is comprised of a portfolio of some 150 brands, including Ask.com, About.com, The Daily Beast, CollegeHumor.com and Citysearch.
Shares of IAC rose two percent during the regular trading session to $52.63 and and were up one percent after the closing bell.
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