IAC/InterActiveCorp hasn’t missed a beat since Barry Diller stepped down as CEO.
The parent of Ask.com, ServiceMagic and Match.com yesterday clobbered second-quarter Wall Street estimates on a surge in search traffic and saw its shares jump as much as 16 percent to a 52-week high.
Diller, now company chairman, told analysts on the earnings call, “We’re in the best shape we’ve ever been. This is a big statement for me.”
John Blackledge, a media analyst at Credit-Suisse told The Post: “They’ve crushed the numbers. Barry Diller was as bullish as I’ve ever heard him.”
Profit in the quarter more than tripled to $42.4 million, or 62 cents a share, handily topping expectations of 40 cents. Sales grew 23 percent to $485.4 million.
Blackledge said advances such as toolbar innovation helped serve up a 28 percent advance in that business’ sales.
The company forecast a continued bullish performance in the third quarter. Despite an afternoon sell-off, shares finished up 11 percent yesterday, to $42.04.
Meanwhile. the red ink continued flowing at Newsweek-DailyBeast. “In a year and half I think we’ll have no losses,” Diller said. He put the total investment at around $50 million by the time the venture turns a profit. The Tina Brown-helmed weekly and Web site tallied 10 million unique visitors, according to Diller.
While the Search and Match units grew significantly over the period, IAC’s Media & Other division saw a slight increase in operating losses. Revenue increased thanks to content ventures including the Ben Silverman-led Electus and CollegeHumor, though increased operating expenses at Electus affected the quarter.


