iVillage’s Q3 results were sweet, but came with a downer...it swung to a profit, but reported that Wal-Mart decided not to continue a collaboration that was a key source of revenue…

The woman’s portal earned $1.1 million, compared with a loss of $9.3 million in the year-ago quarter. Revenue rose 23 percent to $16.7 million from $13.6 million during the same period last year. The company said sales from the iVillage.com site rose 33 percent while other businesses grew 12 percent.

But IVillage also said Wal-Mart decided not to continue a collaboration on a custom publications project involving baby promotions. The company said this deal accounted for about 10 percent of sales in the past nine months.

Earnings release here…

Related: Wal-Mart Gets Into Online Publishing, Sorta