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Q2 2012 Earnings Call
July 25, 2012 11:00 am ET
Barry Diller – Chairman and Senior Executive
Gregory R. Blatt – Chief Executive Officer
Jeffrey W. Kip – Executive Vice President and Chief Financial Officer
Mark Mahaney – Citigroup
Michael Graham – Canaccord Genuity
Jason Helfstein – Oppenheimer & Company
Nat Schindler – Banc of America Merrill Lynch
Kerry Rice – Needham & Company
Heath Terry – Goldman Sachs & Co
Mark May – Barclays
Peter Stabler- Wells Fargo Securities
Gene Munster – Piper Jaffray
Victor Anthony – Topeka Capital
(Call started abruptly) We’re aware that this change leaves us now unfortunately with three labels searching Applications, Websites and Applications, but we thought it necessary for clarity. Our queries in revenue come primarily from Search-based applications. So it is difficult to pull apart search from applications for those metrics, but they are either come as a result of someone having downloaded an application or from someone having gone to a website without the involvement of an application. So we believe that showing the relative breakdown between the two sources is helpful.
Revenue from Websites grew 44% in the quarter. Websites queries are up 6% year-on-year, driven by our marketing efforts domestically and internationally. Overall revenue for Websites is growing more slowly than queries however, because first last year’s numbers include revenue from the direct sponsored listings business we sold in the fourth quarter of 2011.
And secondly, revenue of Pronto was flat year-over-year, revenue of the Dictionary Website grow only modestly versus the prior year, and we exclude both Pronto and Dictionary from our queries metric. Applications queries grew 26%, while monetization also improved versus the prior year, with revenue for the quarter up 49%.