First Quarter 2009 Financials

General News
  • Sunday, May 03 2009 @ 08:12 am
  • Contributed by:
  • Views: 4,053
IAC released their first quarter 2009 financial results on April 29, 2009. Looking at the company as a whole, revenue dropped 10 percent to $332 million. This mainly has to do with the global economic state and how it has affected online advertising. IAC search engine revenue relies heavily on selling advertising space. saw a 1 percent decrease in revenue to $90.1 million when compared to quarter 1 of 2008. This again has been contributed to the negative effect of foreign exchange rates with international markets experiencing a 15 percent decrease in revenue per subscriber. Total Operating Income dropped 2 percent to $9.9 million.

In February Match announced the pending sale of Match Europe to Meetic (see Story). The total value of the sale, including the Meetic shares and promissory note is approximately $140 million.

No mention was made in the report of IAC's other online dating sites Chemistry and their new free site, Down To Earth.

Here is the complete IAC Q1 2009 Report For more information on the dating sites owned by IAC, read our review and are Chemistry review.

Related Story: Fourth Quarter 2008 Financials.