IAC's Q4 results reflect growth in search
IAC reported yesterday that its fourth quarter 2006 revenue totaled $1.8 billion, an 8 percent increase over last year.
The New York-based owner of the Ticketmaster, Ask.com, HSN and Cornerstone brands generated a $4 million operating loss during the same period compared to an operating income of $190.5 million during the fourth quarter 2005.
For the full 2006 year, IAC, said its revenue totaled $6.3 billion. It also generated an operating income totaling $253 million compared to 2005's operating income of $341 million.
One of the strongest performing sectors during the fourth quarter was IAC's media and advertising sector, which experienced a 46 percent increase in revenue for a total of $159.8 million. These results were driven by the continued growth in queries and revenue per query at Ask.com and across most other search related properties, according to IAC.
This sector also includes the Citysearch and Evite brands.
The retailing sector, which includes HSN, Shoebuy and the Cornerstone portfolio of catalogs, posted a 4 percent gain in revenue during the fourth quarter for a total of $978.9 million.
According to the company, retailing revenue continued to benefit from strong online growth in the fourth quarter, particularly from its catalogs.
IAC's ticketing sector reported a 10 percent revenue increase during the fourth quarter for a total of $279.1 million. Revenue was flat in the lending sector at $100.9 million. Revenue dropped 1 percent in real estate for a total of $14.5 million while home services experienced a 46 percent gain for a total of $15.3 million.
The home services sector's results reflect the expansion of ServiceMagic, a Web site that matches consumers to prescreened home improvement contractors.
Revenue in the membership and subscriptions sector also increased 3 percent for a total of $270.8 million.