UPDATE 1-IAC's profit beats estimates on strong dating business growth The company's search business is its largest, but the dating business Match Group is seen as the crown jewel of the conglomerate and has been driving strong results for the past few quarters. Match Group earlier this month agreed to buy dating website PlentyOfFish to push deeper into the lucrative mobile-based dating business, which attracts users with its...
IAC beats 2Q profit forecasts NEW YORK _ IAC/InterActiveCorp on Tuesday reported second-quarter net income of $59.3 million, after reporting a loss in the same period a year earlier. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share. Seven analysts surveyed by Zacks expected $777.7 million.
Source: The Associated Press
Barry Diller's IAC reports 2 pct rise in revenue July 28- Media mogul Barry Diller's IAC/InterActiveCorp reported a 2 percent rise in quarterly revenue as more users signed up for its dating services such as Match.com and mobile app Tinder. IAC's net income was $59.3 million, or 68 cents per share, in the second quarter ended June 30, compared with a net loss of $18 million, or 22 cents per share, a year earlier.
Infidelity website Ashley Madison faces 'doomsday scenario' after hack -bankers TORONTO, July 21- Infidelity website AshleyMadison.com, which has been struggling to launch a London IPO, can kiss goodbye plans for a listing this year, banking sources said on Tuesday, as hackers threatened to publish names and salacious details about its clients unless the website shuts itself down. The website's Canadian parent hoped to raise up to $200...
| By: Alastair Sharp and Euan Rocha
U.S. judge says Internet streaming service should be treated like cable NEW YORK, July 16- A U.S. judge ruled on Thursday that online television service FilmOn X LLC should be treated like a traditional cable system in order to transmit the programs of the nation's broadcasters over the Internet. District Judge George Wu in Los Angeles said in his ruling that FilmOn X is entitled to a compulsory license under the Copyright Act to...
| By: Andrew Chung
UPDATE 2-PlentyOfFish for Match.com owner at $575 million July 14- IAC/InterActive Corp's Match Group, which owns Match.com, agreed to buy dating website PlentyOfFish for $575 million to push deeper into the lucrative mobile-based dating business, ahead of its planned public listing. "As more people than ever use more dating apps than ever with more frequency than ever, PlentyOfFish's addition both brings new...
| By: Sai Sachin R and Arathy S Nair