J2 Profit GrowsWednesday, February 13, 2013
Continued strong growth in the online faxing business as well as the acquisition of high profile media properties brought J2 Online Inc. higher quarterly earnings and revenue.
Net income for the quarter was $83.4 million, up more than 18 percent from the same time a year earlier.
The Hollywood company, which provides online faxing services along with other cloud based services, announced quarterly revenue of $102 million, a 20 percent jump.
Part of the increase came from J2’s acquisition of San Francisco web publisher Ziff Davis Inc, parent company of PCMag.com. It’s part of a broad effort the company has taken to build a property of media holdings. Last month J2 acquired IGN Entertainment, a collection of gaming centric websites.
Chief executive Hemi Zucker said during a conference call Wednesday that he believes these new properties can integrate well with J2’s existing properties and provide opportunities for cross promotional advertising.
Prior to the earnings announcement, J2’s stock closed up 22 cents, or less than 1 percent, to $31.08.