Shopping comparison sites generate strong Q3 revenue for Scripps
Shopping comparison sites Shopzilla.com and uSwitch.com turned in a strong third quarter financial performance, says parent organization The E.W. Scripps Co.
For the quarter, Shopzilla.com and uSwitchcom, which are included in Scripps’ interactive business unit, generated combined revenue of $60.9 million and a segment profit of $9 million. Scripps acquired Shopzilla in June 2005 and USwitch.com, a comparison shopping provider for home services in the United Kingdom, in March.
On a pro forma basis, as if Scripps had owned Shopzilla and uSwitch since Jan. 1, 2005, interactive media division revenue was up about 50% for Q3, Scripps says. “Strong financial performance at Shopzilla and uSwitch also contributed to the company’s consolidated growth,” says Scripps president and Kenneth W. Lowe. “Consumers in growing numbers in the U.S. and the U.K. are turning to our Internet search businesses to shop for the best deals on retail products and essential home services.” Total Q3 revenue rose 13.2% to $583 million from $515 million in Q3 2005.
Overall the interactive media unit accounted for 10% of total revenue in the third quarter.
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