IAC reports 7% YoY growth rate for Q3

Third quarter earnings reports are in and IAC is reporting a strong showing with a reported $1.5 billion in revenue. That is a 7% increase in revenue over Q3 2006.

by Kristina Knight

Q3 revenue was driven by the retailing sector. Good showing also came from Media and Advertising as well as Subscriptions and Memberships. Retailing showed 2% growth, Media and Advertising showed 40% growth and Memberships/Subscriptions showed 19% growth.

IAC Chairman and CEO Barry Diller said, “With the exception of Lending Tree, this was a satisfactory quarter for IAC. Trends at our businesses are good, and particularly so at HSN, where I believe that Mindy Grossman and her team have now become acclimated and are beginning to demonstrate the great retailing smarts that we knew they were capable of.”

In September metrics firm Nielsen//Netratings found IAC's Ask.com to have 2.2% of a search market share. They found that Ask.com showed 4.5% growth from September 2006 to September 2007.

Nielsen//Netratings also found traffic to parent company IAC increased 7% in Q3 with 61 million unique visitors stopping by. IAC holding Interval International showed the most growth at 78% followed by Gifts.com (36% growth) and Evite.com (28% growth). Evite was the number one trafficked website in the Special Occasions category in September. IAC's Ticketmaster.com (9% growth) was the number one trafficked website in the Events category.