IAC Earnings: Profit Down But Revenues Up
Possibly a good sign hiding here: IAC today reported a 25 percent increase in revenues (to $421 million) in the third quarter of 2010 and would have reported a fivefold increase in profit, except that in Q3 2009, the company pulled in $50 million by selling the European version of Match.com.
In other words, IAC’s income from doing business in the third quarter of 2010 was $35 million, five times more than its $7 million in Q3 2009, but thanks to that $50 million sale and after figuring in taxes, it looks like IAC’s profit is down to $17 million, from $21 million the year previously.
Expenses
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