Screen grab of youtube video “Grandfather Goes on TINDER Dates”.
Advertisement
IAC, the Internet company controlled by billionaire media mogul Barry Diller, reported better-than-expected quarterly earnings in part courtesy of impressive growth at entertainment properties like Vimeo, CollegeHumor, Electus and the Daily Beast.
IAC said its revenue from websites fell 10 percent, and its operating income from its Search & Applications group $65.4 million. Despite the earnings beat, IAC shares were shrinking 1 percent in after-hours trading after dropping 2 percent to $67.57 in the regular session. This was up from $82.0 million, or $0.92 per share, in last year’s third quarter.
Match Group, which filed for a USA initial public offering earlier this month, posted a 19 percent rise in revenue to $274.2 million.
Company-wide revenue rose to $838.6 million vs. $782.2 million a year ago.
Dating revenue grew 11% as its paid member count grew.
Revenue from its dating site increased eleven percent and the non-dating revenue scaled 108 percent because of the recent acquisition of The Princeton Review which is a test preparation and college admission service based in Massachusetts.
The media unit, which includes streaming site Vimeo, had a 15% gain in revenue. Its operating income from Match Group was $71.9 million, and the company’s total operating income was $87.1 million.
Advertisement
IAC also said it has extended its partnership with Google for four more years.
