Daily Beast Publisher IAC Posts Rising Adjusted Profit

IAClogo07282010.gifIAC (IACI), Barry Diller’s diversified Internet company, today reported that adjusted second-quarter net income rose to $27.5 million from $3.3 million a year ago, while revenue shot up fivefold to $23.7 million over the same interval.

Including one-time items, net income at IAC, which operates The Daily Beast, Collegehumor.com and other online ventures, fell 67% year over year to $13.6 million.

Revenue in the media segment rose 34% year over year to $59.6 million — thanks in part to the addition of Notional, a CollegeHumor offshoot — but the unit posted an operating loss of $3.9 million, narrowed from $10.2 million in the second quarter of 2009.

The search business, which encompasses Ask.com, Dictionary.com and other sites, posted the healthiest operating results, with a profit of $31.6 million. Match.com had a $25.5 million profit, ServiceMagic netted $5.7 million, and IAC’s corporate business lost $35.2 million.