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Updated from 9:47 a.m. EDT

USA Networks

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, the entertainment and e-commerce company, said Wednesday that its second-quarter operational earnings rose 31%, significantly exceeding Wall Street analysts' expectations.

USA, which in June announced that it would

split its operations into three separate units --

USA Entertainment


USA Electronic Retailing


USA Information Services

-- said combined revenue reached $1.06 billion, up 22.2% compared with the $868.3 million in revenue in the year-ago period. Operational earnings hit $240.2 million, up from $183.1 million in the same quarter last year.

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Its loss per share, excluding one-time charges, was 7 cents. Wall Street analysts expected USA to lose 15 cents a share, according to market research firm

First Call/Thomson Financial

. In last year's comparable quarter it posted a loss of 8 cents a share.

USA Entertainment led the group in revenue and earnings, with $411.5 million and $137 million, respectively. The electronic retailing unit pulled in $357.7 million in revenue, while earning $54.5 million. And USA Information and Services generated $291.3 million in revenue, while earning $56.4 million.

USA Networks, based in New York and controlled by Barry Diller, has had its share of publicity in recent months. In addition to the reorganization,


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, which owns a 42% stake in USA, was bought up by France's


in a

deal announced in June. Shortly following that, USA's president and chief operating officer, Barry Baker, said he would resign.

Shares of USA finished down 3/8, or 1.7%, at 21 9/16.