InterActiveCorp Posts Profit; Revenue Surges
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InterActiveCorp, the e-commerce firm run by media mogul Barry Diller, reported a second-quarter profit and sharply higher revenue, boosted by its Expedia and Hotels.com travel services.
Although analysts said the results were solid and met expectations, shares of the company -- which also operates cable shopping network HSN and ticket retailer Ticketmaster -- fell 7.7%, or $3.02, to $36.48 on Nasdaq.
The company, formerly known as USA Interactive, posted quarterly net income of $92.9 million, or 16 cents a share, compared with $2.3 billion, or $5.51, in the same quarter last year, which included a gain of $2.4 billion from the sale of the USA Entertainment group to Vivendi Universal.
Revenue jumped 38% to $1.5 billion.
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