Summary Box: IAC reports big loss on accounting charge, but results show uptick in online ads
By APTuesday, February 9, 2010
Summary Box: IAC indicates online ad improvement
ONLINE ADS: The latest earnings report from Barry Diller’s Internet company, IAC/InterActiveCorp, indicates that the online advertising market is picking up.
KEY NUMBER: Revenue from IAC’s core search business, which includes Ask.com and Citysearch, rose 3 percent to $185.4 million in the fourth quarter. Revenue had dropped in the first nine months of the year. And IAC said the upward trend is holding up so far in the first quarter.
IN CONTEXT: Other Internet companies have said the online ad market has been improving with the overall economy. Google Inc. reported fourth-quarter ad revenue grew 17 percent. Yahoo Inc. reported a 4 percent drop and AOL Inc. an 8 percent drop, but they had seen bigger declines earlier in the year.
