EXHIBIT 99.2

WEBMD HEALTH CORP.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In thousands, except per share data, unaudited)

	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2005			2004		2005			2004
Revenue	$	45,094		$	36,975	$	119,834		$	95,051
Costs and expenses:
Cost of operations		18,020			13,336		51,531			37,771
Sales and marketing		13,534			12,080		36,663			35,326
General and administrative		6,582			5,493		21,787			15,506
Depreciation and amortization		2,733			1,247		7,985			3,762
Interest income		(10	)		—		(10	)		—
Income before income tax provision		4,235			4,819		1,878			2,686
Income tax provision		112			61		264			152
Net income	$	4,123		$	4,758	$	1,614		$	2,534
Net income per common share:
Basic	$	0.09		$	0.10	$	0.03		$	0.05
Diluted	$	0.09		$	0.10	$	0.03		$	0.05
Weighted-average shares outstanding used in computing net income per common share:
Basic		48,273			48,100		48,158			48,100
Diluted		48,302			48,100		48,167			48,100

WEBMD HEALTH CORP.
CONSOLIDATED SEGMENT INFORMATION
(In thousands, except per share data, unaudited)

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2005			2004			2005			2004
Revenues
Online Services:
Advertising and sponsorship	$	28,054		$	22,590		$	77,497		$	57,830
Licensing		9,053			4,257			23,097			10,212
Content syndication and other		2,124			4,683			6,697			15,080
Total Online Services		39,231			31,530			107,291			83,122
Publishing Services		5,863			5,445			12,543			11,929
	$	45,094		$	36,975		$	119,834		$	95,051
Earnings before interest, taxes, depreciation, amortization and other non-cash items
Online Services	$	7,795		$	6,349		$	15,588		$	15,319
Publishing Services		1,282			2,060			367			2,163
		9,077			8,409			15,955			17,482
Basic earnings per common share before interest, taxes, depreciation, amortization and other non-cash items (a)	$	0.19		$	0.17		$	0.33		$	0.36
Diluted earnings per common share before interest, taxes, depreciation, amortization and other non-cash items (a)	$	0.19		$	0.17		$	0.33		$	0.36
Interest, taxes, depreciation, amortization and other non-cash items (b)
Interest income		10			—			10			—
Depreciation and amortization		(2,733	)		(1,247	)		(7,985	)		(3,762	)
Non-cash advertising and distribution (included in cost of operations)		(74	)		(104	)		(291	)		(705	)
Non-cash advertising and distribution (included in sales and marketing)		(1,633	)		(1,701	)		(4,830	)		(9,134	)
Non-cash stock compensation		(412	)		(538	)		(981	)		(1,195	)
Income tax provision		(112	)		(61	)		(264	)		(152	)
Net income	$	4,123		$	4,758		$	1,614		$	2,534
Net income per common share:
Basic	$	0.09		$	0.10		$	0.03		$	0.05
Diluted	$	0.09		$	0.10		$	0.03		$	0.05
Weighted-average shares outstanding used in computing net income per common share:
Basic		48,273			48,100			48,158			48,100
Diluted		48,302			48,100			48,167			48,100

(a)	Basic and diluted earnings per common share before interest, taxes, depreciation, amortization and other non-cash items is based on the weighted-average shares outstanding used in computing basic and diluted net income per common share
(b)	Reconciliation of earnings before interest, taxes, depreciation, amortization and other non-cash items to net income

WEBMD HEALTH CORP.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In thousands)

	September 30,		December 31,
	2005		2004
	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	41,112	$	3,456
Stock subscription receivable		129,142		—
Accounts receivable, net of allowance for doubtful accounts of $821 at September 30, 2005 and $798 at December 31, 2004		41,685		38,453
Current portion of prepaid advertising		8,324		10,350
Other current assets		2,276		2,619
Total current assets		222,539		54,878
Property and equipment, net		19,172		6,316
Prepaid advertising		15,075		20,047
Goodwill		77,626		52,614
Intangible assets, net		15,678		12,065
Other assets		178		576
	$	350,268	$	146,496
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accrued expenses	$	22,555	$	15,874
Deferred revenue		35,285		29,885
Total current liabilities		57,840		45,759
Stockholders’ equity		292,428		100,737
	$	350,268	$	146,496

WEBMD HEALTH CORP.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In thousands, unaudited)

	Nine Months Ended
	September 30,
	2005			2004
Cash flows from operating activities:
Net income	$	1,614		$	2,534
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		7,985			3,762
Non-cash advertising and distribution		5,121			9,839
Non-cash stock compensation		981			1,195
Changes in operating assets and liabilities:
Accounts receivable		(1,490	)		(11,314	)
Other assets		1,185			3,364
Accrued expenses		2,798			3,382
Deferred revenue		778			2,834
Net cash provided by operating activities		18,972			15,596
Cash flows from investing activities:
Purchases of property and equipment		(15,587	)		(2,612	)
Cash paid in business combinations, net of cash acquired		(30,819	)		(1,500	)
Net cash used in investing activities		(46,406	)		(4,112	)
Cash flows from financing activities:
Net cash transfers from (to) Emdeon		65,090			(10,372	)
Net cash provided by (used in) financing activities		65,090			(10,372	)
Net increase in cash and cash equivalents		37,656			1,112
Cash and cash equivalents at beginning of period		3,456			358
Cash and cash equivalents at end of period	$	41,112		$	1,470