Exhibit 99.2

WebMD CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data, unaudited)

	Three Months Ended					Years Ended
	December 31,					December 31,
	2004		2003			2004		2003
Revenue	$	307,641	$	258,396		$	1,160,351	$	963,980
Costs and expenses:
Cost of operations		171,257		154,383			666,431		564,939
Development and engineering		15,682		10,331			54,161		42,985
Sales, marketing, general and administrative		78,973		72,565			324,027		282,482
Depreciation, amortization and other		16,843		9,473			57,765		62,434
Legal expense		2,653		3,466			9,230		3,959
Restructuring and integration charge		—		—			4,535		—
Gain (loss) on investments		—		(1,563	)		457		1,659
Interest income		4,211		6,467			18,717		22,901
Interest expense		4,824		4,770			19,253		15,214
Other income, net		—		3,100			121		4,218
Income from continuing operations before income tax provision		21,620		11,412			44,244		20,745
Income tax provision		1,931		879			4,910		4,140
Income from continuing operations		19,689		10,533			39,334		16,605
Loss from discontinued operations, net of income taxes		—		—			—		(33,611	)
Net income (loss)	$	19,689	$	10,533		$	39,334	$	(17,006	)
Basic income (loss) per common share:
Income from continuing operations	$	0.06	$	0.03		$	0.13	$	0.05
Loss from discontinued operations		—		—			—		(0.11	)
Net income (loss)	$	0.06	$	0.03		$	0.13	$	(0.06	)
Diluted income (loss) per common share:
Income from continuing operations	$	0.06	$	0.03		$	0.12	$	0.05
Loss from discontinued operations		—		—			—		(0.10	)
Net income (loss)	$	0.06		0.03		$	0.12	$	(0.05	)
Weighted-average shares outstanding used in computing income (loss) per common share:
Basic		312,745		307,069			311,721		304,858
Diluted		333,576		324,058			333,343		325,811

WebMD CORPORATION
CONSOLIDATED SEGMENT INFORMATION
(In thousands, except per share data, unaudited)

	Three Months Ended						Years Ended
	December 31,						December 31,
	2004			2003			2004			2003
Revenues
WebMD Business services	$	182,126		$	140,238		$	686,585		$	505,729
WebMD Practice services		76,412			78,345			296,115			302,640
WebMD Health		39,139			30,783			134,317			110,665
Porex		18,556			16,925			77,099			71,940
Inter-segment eliminations		(8,592	)		(7,895	)		(33,765	)		(26,994	)
	$	307,641		$	258,396		$	1,160,351		$	963,980
Income (loss) before restructuring, taxes, non-cash and other items
WebMD Business services	$	41,320		$	26,058		$	131,834		$	94,218
WebMD Practice services		5,555			4,582			14,533			20,924
WebMD Health		10,690			5,976			32,898			24,898
Porex		5,510			4,675			22,650			20,532
Corporate		(15,679	)		(12,599	)		(58,382	)		(50,251	)
Interest income		4,211			6,467			18,717			22,901
Interest expense		(4,824	)		(4,770	)		(19,253	)		(15,214	)
	$	46,783		$	30,389		$	142,997		$	118,008
Basic income per common share before restructuring, taxes,
non-cash and other items (a)	$	0.15		$	0.10		$	0.46		$	0.39
Diluted income per common share before restructuring, taxes,
non-cash and other items (a)	$	0.14		$	0.09		$	0.43		$	0.36
Restructuring, taxes, non-cash and other items (b)
Depreciation, amortization and other	$	(16,843	)	$	(9,473	)	$	(57,765	)	$	(62,434	)
Amortization of prepaid content and services (included in cost of operations)		(196	)		(425	)		(901	)		(2,356	)
Amortization of prepaid content and services (included in sales, marketing, general and administrative)		(3,737	)		(5,650	)		(17,925	)		(21,942	)
Non-cash stock compensation (included in sales, marketing, general and administrative)		(1,734	)		(1,500	)		(8,975	)		(12,449	)
Legal expense		(2,653	)		(3,466	)		(9,230	)		(3,959	)
Restructuring and integration charge		—			—			(4,535	)		—
Gain (loss) on investment		—			(1,563	)		457			1,659
Other income, net		—			3,100			121			4,218
Income tax provision		(1,931	)		(879	)		(4,910	)		(4,140	)
Income from continuing operations		19,689			10,533			39,334			16,605
Loss from discontinued operations, net of income taxes		—			—			—			(33,611	)
Net income (loss)	$	19,689		$	10,533		$	39,334		$	(17,006	)
Basic income (loss) per common share:
Income from continuing operations	$	0.06		$	0.03		$	0.13		$	0.05
Loss from discontinued operations		—			—			—			(0.11	)
Net income (loss)	$	0.06		$	0.03		$	0.13		$	(0.06	)
Diluted income (loss) per common share:
Income from continuing operations	$	0.06		$	0.03		$	0.12		$	0.05
Loss from discontinued operations		—			—			—			(0.10	)
Net income (loss)	$	0.06		$	0.03		$	0.12		$	(0.05	)
Weighted-average shares outstanding used in computing income (loss) per common share:
Basic		312,745			307,069			311,721			304,858
Diluted		333,576			324,058			333,343			325,811

(a)	Basic and diluted income per common share before restructuring, taxes, non-cash and other items are based on the weighted-average shares outstanding used in computing basic and diluted income (loss) per common share.
(b)	Reconciliation of income before restructuring, taxes, non-cash and other items to income from continuing operations.

WebMD CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands, unaudited)

	December 31,		December 31,
	2004		2003
Assets
Cash and cash equivalents	$	46,019	$	39,648
Short-term investments		61,675		231,033
Accounts receivable, net		214,437		181,173
Inventory		13,476		12,158
Prepaid expenses and other current assets		41,115		44,089
Total current assets		376,722		508,101
Marketable debt securities		511,864		451,290
Marketable equity securities		4,017		4,744
Property and equipment, net		89,677		77,278
Goodwill		1,010,564		844,448
Intangible assets, net		260,509		184,130
Other assets		48,871		65,315
	$	2,302,224	$	2,135,306
Liabilities and Stockholders’ Equity
Accounts payable	$	17,366	$	10,390
Accrued expenses		201,528		208,430
Deferred revenue		109,533		86,708
Total current liabilities		328,427		305,528
Convertible subordinated notes		649,999		649,999
Other long-term liabilities		1,283		1,182
Convertible redeemable exchangeable preferred stock		98,299		—
Stockholders’ equity		1,224,216		1,178,597
	$	2,302,224	$	2,135,306

WebMD CORPORATION
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, unaudited)

	Years Ended
	December 31,
	2004			2003
Cash flows from operating activities:
Net income (loss)	$	39,334		$	(17,006	)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Loss from discontinued operations		—			33,611
Depreciation, amortization and other		57,765			62,434
Amortization of debt issuance costs		2,975			2,246
Non-cash content and distribution services		18,826			24,298
Non-cash stock-based compensation		8,975			12,449
Bad debt expense		3,606			6,328
Gain on investments		(457	)		(1,659	)
Gain on sale of property and equipment		(121	)		(3,100	)
Changes in operating assets and liabilities:
Accounts receivable		(20,477	)		(813	)
Inventory		(1,041	)		(2,176	)
Prepaid expenses and other, net		3,478			3,792
Accounts payable		5,577			(651	)
Accrued expenses		(43,703	)		(42,419	)
Deferred revenue		15,307			(225	)
Net cash provided by continuing operations		90,044			77,109
Net cash provided by discontinued operations		—			5,130
Net cash provided by operating activities		90,044			82,239
Cash flows from investing activities:
Proceeds from maturities and sales of available-for-sale securities		404,370			327,544
Proceeds from maturities and redemptions of held-to-maturity securities		—			157,919
Purchases of available-for-sale securities		(304,582	)		(8,254	)
Purchases of held-to-maturity securities		—			(590,113	)
Purchases of property and equipment		(38,800	)		(18,385	)
Proceeds received from sale of discontinued operations		—			46,500
Proceeds received from sale of property and equipment		417			9,779
Other changes in equity of discontinued operations		—			1,754
Cash paid in business combinations, net of cash acquired		(249,557	)		(400,491	)
Net cash used in continuing operations		(188,152	)		(473,747	)
Net cash used in discontinued operations		—			(2,529	)
Net cash used in investing activities		(188,152	)		(476,276	)
Cash flows from financing activities:
Proceeds from issuance of common stock		38,052			44,719
Net proceeds from issuance of convertible redeemable exchangeable preferred stock		98,115			—
Payments of notes payable and other		(602	)		(361	)
Purchase of treasury stock		(32,110	)		(20,316	)
Net proceeds from issuance of convertible debt		—			339,125
Net cash provided by continuing operations		103,455			363,167
Net cash used in discontinued operations		—			(6,546	)
Net cash provided by financing activities		103,455			356,621
Effect of exchange rates on cash		1,024			1,423
Net increase (decrease) in cash and cash equivalents		6,371			(35,993	)
Changes in cash attributable to discontinued operations		—			3,945
Cash and cash equivalents at beginning of period		39,648			71,696
Cash and cash equivalents at end of period	$	46,019		$	39,648