IAC Q1 Earnings Way Up; Daily Beast Doing Better

IAC reported $18 million in net income today, which is $36 million more than the company made in the first quarter of 2010.

If you look at income before taxes etc., the company pulled in $37 million, a 318% improvement over the first quarter of 2010.

Revenue was up at all of IAC’s business segments including media(!), which brought in $54 million in revenue. However, even unspecified “reduced losses” at the Daily Beast weren’t enough to make IAC’s media segment profitable on its own: the segment lost $3.7 million, which was more than offset by revenue at IAC’s Match.com and other Internet services like Ask.com and Dictionary.com.