InfoSpace, the search and mobile media company, reported Q3 results today, and profits declined 16 percent despite higher sales, but overall results beat Street’s expectations, sending the stock soaring by about 18 percent in late trading. Earnings declined to $11.3 million, from $13.4 million last year. Revenue, however, increased 24 percent to $83.2 million from $67.2 million.
Mobile revenues were $39.0 million in Q3, an increase of $13.9 million or 55 percent from Q3 2004. The increase in revenue is due to “year-over-year growth in the company’s media download business”. Mobile segment income totaled $6.8 million or 18 percent of revenues for Q3.
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