BELLEVUE, Wash.-Internet and wireless technology vendor InfoSpace Inc. reported $48.1 million in revenues, up 59 percent from the same quarter a year ago. The company also scored net income of $5.4 million, a turnaround from the $1.9 million net loss it reported in the same quarter a year ago.
Further, the company’s revenues from its wireless business clocked in at $14.8 million for the first quarter, way up from the $8.7 million it reported in the first quarter of 2003. InfoSpace said the jump was due to media downloads. The company said its wireless income totaled $3.8 million.
“Both Search & Directory and Mobile delivered strong results this quarter, driven by dramatic growth in paid searches and mobile media downloads,” said Jim Voelker, chairman and chief executive officer of InfoSpace. “We will continue to invest in these growing markets, both in organic efforts and through acquisition.”
Indeed, InfoSpace recently acquired ring tone and wireless media company Moviso.
InfoSpace’s stock fell almost 7 percent however to $38.20 per share.
