IAC Reports Strong Q2

IAC more than tripled its income in the second quarter of 2011 compared to the same quarter last year, the company reported today, with a net profit of $42 million compared to $13.6 million.

Nearly every segment of the company, from search (Ask.com) to online dating (Match.com and OKCupid) showed strong gains in the quarter; the media division, which now includes CollegeHumor, Vimeo, and more, increased revenues but was still unprofitable due to increased operating costs.

The Daily Beast, which became part of a joint venture with Harman Newsweek in early 2011, is now counted on a separate line; it appears that the Beast/Newsweek juggernaut lost a good deal of money in the quarter. The company didn’t make any more predictions about when the company would become profitable, but we’re still counting down to May 16, 2014.