NEW YORK ( TheStreet) -- Shares of Ancestry.com (ACOM) rose in late trades Wednesday after the company handily beat Wall Street's earnings expectations and agreed to acquire privately held Archives.com for $100 million.
The Provo, Utah-based company said its subscriber base stood at 1.87 million as of March 31, up 16% year-over-year, and announced a new $100 million buyback program as well.
For the first quarter, Ancestry.com said it earned $13.5 million, or 30 cents a share, on revenue of $108.5 million, besting the average estimate of analysts polled by
Thomson Reuters for a profit of 23 cents a share on revenue of $107.4 million.
The stock was last quoted at $26.99, up 10.4%, on volume of nearly 90,000, according to Nasdaq.com.Ancestry.com also forecast revenue of $115 million to $117 million for the second quarter with subscribers rising to a range of 1.965 million to 1.980 million. For the full year, it sees revenue of $460 million to $470 million with between 1.965 million and 1.985 million subscribers. Check out TheStreet's quote page for Ancestry.com for year-to-date share performance, analyst ratings, earnings estimates and much more.