NEW YORK (TheStreet) — Shares of Ancestry.com rose in late trades Wednesday after the company handily beat Wall Street’s earnings expectations and agreed to acquire privately held Archives.com for $100 million.
The Provo, Utah-based company said its subscriber base stood at 1.87 million as of March 31, up 16% year-over-year, and announced a new $100 million buyback program as well.
For the first quarter, Ancestry.com said it earned $13.5 million, or 30 cents a share, on revenue of $108.5 million, besting the average estimate of analysts polled by Thomson Reuters for a profit of 23 cents a share on revenue of $107.4 million.
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