Shares of Blucora skyrocketed more than 26 percent on Friday after the Bellevue Internet search and tax software company formerly known as InfoSpace posted strong earnings. The stock was trading at $16.13, a 7-year high according to Investor’s Business Daily.
In a press release Thursday after the markets closed, Blucora CEO Bill Ruckelshaus said that they were pleased with the results and “encouraged by the continued momentum in our search business.”
Blucora operates the Dogpile and MetaCrawler search engines. In fact, search revenue increased 51 percent to $81.8 million for the quarter. The company’s newly-acquired TaxACT business brought in $19.1 million, for a total revenue haul at the company of $100.9 million. That was a gain of 86 percent.
Net income for the quarter was $9.7 million, compared to a net loss of $4.7 million for the same period last year.
Shares of Blucora, which purchased TaxACT earlier this year for $287 million, are up 29 percent in the past year.