Earnings: InfoSpace in Losses In Q2; Revenues Decrease

Infospace (Nasdaq: INSP) reported its Q2 numbers today and revenues were $70.5 million, reflecting a $25.3 million decrease over Q206, attributable to $19.0 million decrease due to its exit out of the mobile media business. Net loss was $28.1 million, versus net income of $1.0 million in Q206..this includes a $22.3 million payment made to employees and directors related to the $208.2 million special dividend to shareholders.
— Online revenues were $39.7 million, a decrease of $10.6 million from Q206, largely attributable to the reduction in traffic from the company’s search engine marketing distribution partners. Online segment income was $15.8 million in Q2.
— Mobile revenues were $30.8 million, a net decrease of $14.7 million compared to Q206. The $30.8 million is comprised of $13.4 million in mobile services revenues (its new focus in mobile), an increase of $4.3 million from the Q206 and $17.4 million in media content revenues, representing a decrease of $19.0 million from Q206. Mobile segment loss was $3.6 million in Q207.

Release | Webcast.

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