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IAC CEO on Profits

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    IAC/InterActiveCorp CEO Gregory Blatt weighs in on earnings.

  • Duration 3:45
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-- shares of -- Interactive corporation hitting a new 52 week high just one day ago.

As first quarter profit soared nine -- 1% for the Internet conglomerate.

Joining me now quite first on Fox Business interview as I AC CEO.

Gregory button -- great to have you on the -- CO.

Great see you again Carol let's talk about really where the money came from and that as the revenues for the quarter that was online dating that was searching used to -- match dot com.

Is this -- your thumbprint on the company now for the quarter.

Well I I think look -- -- in search of both the major contributors to the business -- had great growth in both.

In a slightly different businesses -- very -- -- heavily branded.

Global consumer business which you know has just had great momentum across all brands.

In and virtually every one of our geography is so it's been going great.

And I search is really been driving through -- occasion and and and tactical growth and -- we feel really strongly about the outlook for about.

There were also some -- some concerns about the analyst with regards to the quarter that was from.

In particular elect discuss the production company does produce in the TV show fashions -- star so that if I get a different way to go for the company and -- the chairman.

Barry -- this is a very a passion project for him.

You talked about -- on the call and said that this is going to be our revenue driver you're behind this drug business standpoint what do you do with video -- would elect us.

Sure well local -- you know we we have an operation -- media not there which is a collection of businesses that we're investing in net they're not profit contributors there -- things that we.

You invested at a at a loss at the moment but they're growing revenues and those things we believe will turn and the frost -- effectively our days so.

We take you know where heavily profitable company we take a small percentage -- we invested back in business is -- that we believe in.

Elect this has been growing great you know which really trying to do something that's never been done before -- -- Take sort of.

Old media content production and and leverage it across all media but also across new media and we're doing some of that that content channels on YouTube we've got shows on network television.

-- lots of international distribution so we feel great about it it will be odd for it to be a big profit contributor at this stage and now.

We believe it.

You know grab the stock is up over the last year about 35%.

Having you took up -- 2010 of the stock.

Again but with -- with the changes on the company -- and the corporate structure changing in the near leadership.

-- -- the key AS shaped form eleven analysts are right out solve a hold on the stock do you think that the street is missing something with the story of IAC.

Yeah look I think I think that that the downside we have is that we are multiple businesses so opt for some people about little hard to digest it takes -- -- while.

I think if you look at the trajectory over the last you know fifteen or so months.

We've been we've been converting a lot of naysayers sellout -- we haven't converted all of them yet but.

As people Begin to understand our story and -- that we're delivering consistent growth across -- businesses and disciplined capital redeployment to our shareholders I think that I think hopefully those few remaining naysayers -- will come over to our side.

Greg real quick before I let go your front of the -- Daily Beast -- -- is there at the opposites -- had I have to ask you what a lot of analysts are hoping you can relate.

-- Newsweek -- the Daily Beast around make them profit drivers any plans for.

-- -- Sure we'll listen we you know we we started the Daily Beast -- several years ago we had merged it with Newsweek obviously an iconic brand.

Time honored brand.

You know again that's an investment property but the investment is coming down every year we've had growth in an ad pages in Q1 and and -- growth in unique -- and the trajectory is all right so while we feel really good about it.

Greg blatt IAC CEO Greg it's great to see you come back any time.

Thanks -- touches him.

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