InfoSpace Reports Mixed Earnings (INSP)

InfoSpace, Inc.

reports Q2 earnings of $0.02 versus estimates of $0.03. InfoSpace, Inc. reports Q2 revenues of $59.4 million versus estimates of $58.73 million. Revenues increased 35.3% year over year. Cash, cash equivalents, and marketable securities as of June 30, 2010 totaled $223.4 million. At the end of the quarter, the Company had no debt obligations. For the third quarter of 2010, the Company expects revenues to be between $61 million and $65 million, Adjusted EBITDA to be between $7 million and $8 million, and net income to be between $0.5 million and $1.5 million, or $0.01 and $0.04 per diluted share. "InfoSpace achieved solid results in the second quarter, with good performance from our search and e-commerce businesses," said Will Lansing, president and chief executive officer of InfoSpace. "Additionally, we are pleased with the performance of our recent acquisitions of Mercantila and Make The Web Better and we continue to look for strategic opportunities to increase shareholder value."