InfoSpace Mobile Revenues Soar

Infospace‘s stock plunged over 18% late Tuesday as investors quickly expressed their disappointment with the company’s outlook for the current quarter, despite a surge in profit and revenue for the just-ended period.
Its Q1 profit got a boost from a large legal settlement and soared to $93.4 million, from $36.7 million a year earlier. Revenues climbed 81% to $87 million from $48.1 million a year ago.Search & Directory revenues were $48.0 million, an increase of $14.7 million or 44 percent from the year-ago quarter. Mobile revenues were $39.1 million, an increase of $24.2 million or 163 percent from the year-ago quarter. The increase in revenue is due to “growth in the company’s media download business as well as a full quarter of European mobile games results”. Mobile segment income totaled $10.2 million or 26 percent of revenues for the first quarter of 2005.
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