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Team Internet sells fewer domains but makes more profit
Team Internet, still reeling from Google’s decision to cut off one of its primary revenue sources, nevertheless stayed profitable in the first half of the year, the company reported.
The company’s domains division, one of three reporting units, saw a 6% dip in revenue when compared to the same period last year, coming in at $97.9 million versus $103.9 million.
At the EBITDA level, its profit for the six months to June 30 was $13.7 million, up by 28% from $10.7 million a year earlier.
Team Internet’s Search division, which had been reliant on Google’s now essentially discontinued AdSense for Domains service, saw a 63% decline in revenue to $48.3 million, converting an EBITDA profit of $8.5 million into a loss of $2.6 million.
The company said that revenue from AdSense for Domains is now “negligible” and that its transition to Google’s Related Search on Content returned the division to profit in June, though this is not visible from the reported H1 numbers.
Combining all three of the company’s divisions, overall Team Internet reported EBITDA profit of $19.5 million, down 21% on last year, on revenue down 32% at $179.1 million.
There was no news on the company’s plans to spin off its domains business, where a deal is expected shortly.
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