InfoSpace (INSP rose 8% late Wednesday after the online media company posted a strong second-quarter revenue gain.The Seattle-based company said earnings fell to $1 million, or 3 cents a share, from the year-ago $16 million, or 44 cents a share. But revenue rose to $95.8 million from $83.2 million a year ago. Analysts surveyed by Thomson Financial were looking for a 6-cent loss on revenue of $91 million. "Our results were ahead of our expectations in the second quarter, primarily driven by growth in mobile media downloads and an increase in online monetization," said CEO Jim Voelker. "We are pleased with the strength of our online business and the growth in the number of users accessing our mobile products." Mobile revenue rose 23% from a year ago to $45.5 million, while online revenue rose 9% to $50.4 million. InfoSpace guided to a third-quarter loss of 8 cents to 11 cents a share on revenue of around $96 million. Analysts were looking for a 3-cent loss on revenue of $92 million. Shares rose $1.60 late Wednesday to $22.82.
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