IAC Interactive (IACI): Bad News All Around
July 31, 2007 by Douglas A. McIntyreIACI (IACI) released second quarter 2007 results , reporting $1.5 billion in revenue, a 6% rate of growth over the prior year, and $136 million in Operating Income Before Amortization, compared to $165 million in the year ago period. Adjusted EPS was $0.31, compared to $0.32 in the year ago period.
Operating income fell 33% to $54.4 million.
On a segment basis, revenue at the big retailing operation, which includes HSN, was up only 1% to $701.4 million. Operating income for the division fell 31% to $34.5 million.
Revenue in the transaction segment, which includes TicketMaster, was up 2% to $441.9 million. Operating income fell 36% to $48.5.
The media and advertising segment, which includes Ask.com, had revenue growth of 33% to $174 million. But, the segment had a loss of $10.7 million.
It looks like the small conglomerate is not doing very well.
Douglas A. McIntyre
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