Wednesday, July 29, 2009
Internet Brands Traffic Up, Revenues Flat
Los Angeles-based Internet Brands reported its quarterly results Wednesday afternoon, reporting that it saw 50 million monthly unique visitors to the firm's websites in June, up 35 percent from 37 million uniques in June of last year. However, the traffic did not appear to benefit the firm's sales, as revenues came in a $23.2M, compared with $25.3M for the similar period last year. The firm was hit by a decrease of around $3.5M in automotive e-commerce revenues, one of the firm's major segments. The firm said its net income for the second quarter was $2.5M. The bright spot in the firm's result were advertising revenue, which the firm said were up $1.2M for the quarter, mainly due to acquisitions and organic growth on its websites.