NEW YORK (TheStreet) -- It may be time for Barry Diller to orchestrate yet another spin-off.
IAC Interactive (IACI) reported revenue and profit for the third-quarter that beat analysts forecasts and heightening the possibility that the Diller's company could spin-off its Match Group, a business unit formed in December to house its popular matchmaking app Tinder as well as Match.com and OKCupid. Diller has engineered numerous spin-offs over his long career including Expedia (EXPE) - Get Expedia Group, Inc. Report in 2005 as well as HSN and Ticketmaster in 2007.
Elsewhere among IAC's many Internet properties, Vimeo, the video aggregator that competes with Google's (GOOG) - Get Alphabet Inc. Class C Report YouTube, reported a 30% jump in sales as paid subscribers surpassed 530,000. Vimeo, which has been taking producers away from YouTube as it attempts to steal some of the Internet traffic that goes to Google's video platform, recently acquired the rights to 12 action-sports films from The Orchard, YouTube's ninth-largest network, as well as programming from Discovery Communications (DISCA) - Get Discovery, Inc. Class A Report video blogger Phil DeFranco. Both will continue to post videos at YouTube, the country's largest video platform.
For the quarter ended Sept. 30, IAC reported net income of 92 cents per share, well above the 66 cents per share average forecast of analysts in a survey compiled by Bloomberg. Revenue for the quarter was $782 million, beating a $751 million average analyst forecast.Shares of New York-based IAC were gaining 1.3% to $66.01, trimming its 2014 decline to 3.9%.
Tinder provides subscribers with photos of possible matches, allowing users to swipe right on pictures if they're interested in someone or left if they're not. Though Tinder is yet to be profitable, its growth has made IAC the world's largest online dating provider.
Results for the quarter were a marked improvement over IAC's previous three-month earnings report in which the company was forced to make a $68.4 million writedown for investments that included the Internet-TV startup Aereo Inc. In June, the Supreme Court ruled against Aereo in a copyright infringement case led by the country's broadcast networks including CBS (CBS) - Get CBS Corporation Class B Report , Comcast's
(CMCSA) - Get Comcast Corporation Class A Report NBC/Universal, 21st Century Fox (FOXA) - Get Fox Corporation Class A Report and Disney (DIS) - Get Walt Disney Company Report , owner of ABC. As a result, Aereo was forced to halted operations.
--Written by Leon Lazaroff in New York
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Leon Lazaroff is TheStreet's deputy managing editor.