IAC Reports Q2 Results

WSJ - July 29 - IAC posted a second-quarter profit of $13.6<, or 12c a share, down from $40.8M, or 28c a share, a year earlier. Excluding tax impacts in the latest quarter and a gain related to Match Europe in the year-ago quarter, earnings rose to 24% from two cents as revenue climbed 18% to $402.9M. Match.com operations saw a 10% drop in profit while revenue grew 10%. Paid subscribers climbed 48%. In May, IAC said it signed an agreement with Yahoo, in which Match would become the exclusive online dating site for Yahoo's personal users. Match will receive media placements on the site, as well as occupy the position served by the personal navigational link on Yahoo's homepage. FULL ARTICLE @ WSJ

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