IAC/Interactive (IACI), the media company whose businesses include Tina Brown’s The Daily Beast, comedy site College Humor, Ask.com, Dictionary.com and other Internet ventures, today announced an adjusted first-quarter loss of $300,000, slightly narrower than the loss posted in the year-ago quarter. Earnings of zero cents a share fell short of the 7 cents Wall Street analysts were expecting, according to Thomson Reuters.
However, revenue climbed 16% year over year to $385.9 million in the first quarter, exceeding analysts’ expectations. Expenses included an $18.3 million writedown on an investment in The HealthCentral Network and a $4 million pretax gain stemming from the company’s sale of shares in OpenTable, Inc.
In the company’s “Media & Other” segment, which includes The Daily Beast, CollegeHumor, Evite and Gifts.com, revenue rose 20% year over year to $55.9 million. This is what the company had to say about performance of “Media & Other”:
Pronto, driven by continued improvements in customer acquisition and monetization, as well as growth at The Daily Beast, Gifts.com and Vimeo.
Sounds like The Daily Beast is pulling its own weight at IAC, no small feat for a Web media property.
In midmorning trading, shares of IAC/Interactive were rising 3.2% to $23.91.