IAC (IACI) has the word "interactive" in its name. And, it owns Ask.com, which as about 5% of the online search business.
But, the company is hardly an online operation. Revenue for the fourth quarter of 2006, released today, was $1.8 billion, up 8% from the same period a year ago. Operating income before amortization was up slightly to $267.6 million.
But, the portion of the company that includes Ask.com, labeled "Media and Advertising" in the company’s financials, had revenue of only $160 million. It was up 46%, but is an extremely small part of the total. Operating income from this segment was just under $14 million, not much of a margin for an internet operation. It did grow 81%.
At its core, IAC is Home Shopping Network. And, it will stay that way unless the internet operations are spun off.
Douglas A. McIntyre can be reached at [email protected]. He does not own securities in companies that he writes about.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.