BELLEVUE, Wash.—InfoSpace Inc. reported a profit for the second quarter, surprising analysts who expected the company to log a loss on the quarter.
Net income for the quarter came in at $1 million, down from net income of $16.3 million during the same period last year. The company said its net income figures included a $4.6 million deduction for stock-based compensation expenses.
Revenues for the second quarter totaled $95.8 million, a 15-percent increase from revenues of $83.2 million from the second quarter last year and a 6-percent increase from revenues of $90 million during the first quarter this year. Revenues beat average analyst expectations of $91.37 million.
“Our results were ahead of our expectations in the second quarter, primarily driven by growth in mobile media downloads and an increase in online monetization,” said Jim Voelker, chairman and chief executive officer of InfoSpace.
Mobile revenues totaled $45.5 million during the quarter, up 23 percent from revenues of $37.1 million during the same quarter last year. Mobile revenues during the first quarter were $44.1 million.
The company provided third-quarter revenue guidance of between $95 million and $97 million and a net loss of between $2.5 million and $3.5 million, including the impact of about $6.5 million of stock-based compensation expenses. Analysts have predicted revenues of $92.32 million for the quarter.
