Updated from 9:47 a.m. EDT
, 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 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.
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,
, which owns a 42% stake in USA, was bought up by France's
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.