Fox Interactive revenue grows on Google’s back

Looks like Fox Interactive Media got the better end of its deal with Google.

Just last week, Google was bemoaning during its earnings call that “social networking inventory is not monetizing as well as expected,” in the words of Google’s George Reyes.

Today, News Corp. touted search as a leading driver of revenue growth at FIM in its latest fiscal quarter.  “Our revenue from Google is guaranteed; that’s not a particular issue for us,” News Corp.’s Peter Chernin said during the earnings call this afternoon.

Search accounts for between one-quarter to one-third of revenue at Fox Interactive Media, Chernin said.

Company execs also touted MySpace’s new HyperTargeting platform as a revenue driver. The site now offers targeting in more than 750 categories, with the goal of getting to 1,000 by July. The most popular segments are fashion, consumer electronics, videogames and financial services, all of which are categories where marketers had formerly shied away, News Corp. said.