Shopzilla’s Q2 2006 Revenue and Earnings
From the Scripps earnings release:
At the company’s interactive media division, which includes Shopzilla and uSwitch, second quarter segment profit reached $16.5 million on revenue of $65.0 million. On a pro forma basis, as if Scripps had owned Shopzilla and uSwitch since Jan. 1, 2005, interactive media division revenue nearly doubled.
Rapid growth at Shopzilla and uSwitch is attributable to growing consumer acceptance of Internet search and price comparison services in the United States and United Kingdom. Shopzilla is a leading search and price comparison Web site for consumer products in the U.S. In the United Kingdom, uSwitch is a leading Web site for consumers who want to find, compare and switch essential home services.
Forecast - from the conference call:
-Segment profit for the interactive division up 8% y/y in third quarter, which is less than expected due to increased costs for European expansion, overhead, and technology. Willing to give up some margin this year on Shopzilla to make improvements.
-Segment profit of $65m still expected for full fiscal year, $50 - 55m of which is expected from Shopzilla
-uSwitch 3rd quarter is very low seasonally.
Don’t think Scripps broke out Q2 2006 numbers for Shopzilla and uSwitch. Will contact investor relations…or if someone from Shopzilla reads this, please let me know.
For comparison, Q2 2005 numbers for Shopzilla: revenue of $29.5 million and earnings of $7.6 million.
-Question on the call about integrating Shopzilla and uSwitch into other media divisions. Answer: Shopzilla is “working with everyone on cross-promotion. Integrating Shopzilla contextually across all Scripps web sites.” Also leveraging newspapers and TV stations. [Poor Tim Peterman, senior vice president, interactive media, he lost his voice and couldn't answer the question himself.]
Related Posts:
Scripps’ (SSP) Q1 2006 Results - April 25, 2006
Wall Street Wrong about Scripps (SSP) - March 16, 2006
Comments on the uSwitch Acquisition - March 16, 2006
Shopping.com Revenue Numbers - February 3, 2006
Another Stellar Quarter for Shopzilla - Revenue and Segment Profit Up - February 2, 2006
Scripps Provides 2006 Guidance for Shopzilla - December 5, 2005
Shopzilla’s Revenue Up. Earnings Down? - October 26, 2005

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