Blucora, the Bellevue operator of the TaxACT online tax preparation service and InfoSpace search engine, today reported first quarter results that topped analysts’ expectations. The company reported earnings per share of $1.03, above the 91 cents projected by analysts. The company reported earnings per share of $1.12 for the same period last year.
Net income for the quarter was $23.1 million, while total revenues at the company fell to $174.8 million.
“Blucora results in the first quarter reflect strong in-season performance from TaxACT and continued pressures at Infospace,” said Blucora CEO Bill Ruckelshaus in a press release. “We are pleased to report consolidated performance in the quarter was in line with our expectations. Regaining our momentum through operational execution is the number one priority in 2015. Blucora remains well positioned with a diversified portfolio of businesses, capable leadership and a strong financial position that provides for future flexibility.”
Blucora’s search business saw revenues decline by 19 percent during the quarter, dropping to $174.8 million.
The company’s stock is down 26 percent in the past 12 months.