Nopparat Khokthong/Dreamstime.com
IAC/InterActiveCorp shares were trading higher Tuesday after the internet holding company announced a strong financial update, and Wall Street responded with positive commentary on the stock.
IAC (ticker: IAC) has been issuing monthly financial updates on all of its business lines, and the December update included positive signs from several of its businesses.
Most important, the company said that revenue at Vimeo, a provider of cloud-based video editing tools, rose 57%, accelerating from 54% growth in November and 49% in October. Subscribers were up 24% for the second straight month, increasing from 22% in October, 21% in September and 19% in August.