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Looking forward to the second half of the year, we now project greater search in applications revenue growth than we previously expected, with modest sequential growth through the back half of the year. In terms of margin, we now expect the trends we've seen through the first half of the year to continue with OIBA margin in the segment roughly flat to the prior year.Moving on to our Match segment, our core Match businesses Match, People Media and Chemistry continue to grow with 12% revenue growth in the quarter. The second quarter was also our ninth consecutive quarter year-on-year double digits subscriber growth in the core businesses. Our revenue growth slowed modestly from the first quarter, in large part because we cut back unprofitable marketing on certain properties and delayed marketing spend on others to coincide with new products initiatives. We’re hopeful however that these new initiatives will strengthen that growth going forward. Developing revenues decreased in the quarter. But that's really the result of the reduced marketing of Singlesnet, which Match real revenue growth at OKcupid and in Canada. [Media] remains on track with the objectives Greg has laid out on previous calls with full-year revenue expected to be down mid-single digits and full-year EBITDA expected to be flattish to last year on a same currency basis, excluding acquisition related to accounting effect. For the remainder of the year, we expect overall Match revenue growth to continue approximately its current rate, and we also expect modest margin expansion year-on-year. Our Local segment grew revenue modestly and OIBA more than 20% in the second quarter. Revenue growth was lower-than-expected as we pull back inefficient marketing dollars, and we expect similarly modest revenue growth and lower, but still double-digit OIBA growth in the third quarter, with lower revenue expectations created again by our efforts to optimize our marketing.
Finally, Media and Other, as we mentioned has now been separate in these two segments to group the businesses together the way we think about and manage them internally. Media includes Electus and Vimeo, both of which saw approximately double or more revenue versus the prior period a year ago, as well as CollegeHumor, Notional and DailyBurn. Media now also includes Newsweek Daily Beast, given our consolidation of that business at the end of May.Looking forward to the remainder of the year, we expect topline growth in the segment to continue, driven primarily by Electus and Vimeo. Revenue will further increase year-over-year from the addition of Newsweek Daily Beast. We also now expect OIBA loss for this segment in a range of $20 million to $25 million for the second half of the year, with the majority of the OIBA loss coming in the third quarter, given both expanded investment across our Media businesses and a consolidation of Newsweek Daily Beast. Finally, in other, which includes Shoebuy as well as some of our early-stage investments like Hatch Labs and (inaudible) we'll continue to invest with second half losses approximating first-half results. With that we'll take your questions. Operator? Unidentified Company Speaker Do we have an operator? Question-and-Answer Session Operator Pardon me. Your first question comes from the line of Mark Mahaney of Citigroup. Your line is open. Mark Mahaney – Citigroup Thank you, thanks for the greater disclosure by the way in the Search & Applications segment. So could you just go through why your outlook for the Search revenue in the back half of the year may have changed from flattish to sequentially to a little bit of growth and then, just through those margins, it looks like you're guiding to margins in the back half of the year, maybe down a little bit from the first of the year, but I know flattish year-over-year, is that just a normal seasonal that the investments in the business, is there any particular reason to think that 20%, 21% isn’t the right kind of margin level for the business for long-term? Thank you. Read the rest of this transcript for free on seekingalpha.com