IAC/InterActiveCorp profits rise

Earnings Brief

Barry Diller’s IAC/InterActiveCorp said profits surged 81% last quarter on strength at its online travel biz led by Expedia.

The Gotham company, which also owns Home Shopping Network, Ticketmaster and the CitySearch web guides, earned $69 million in the first three months of ’05, up from $38.3 million the year before. Revenue rose 14% to $1.65 billion.

IAC Travel grew revenue 14% to $564 million.

IAC/InterActiveCorp. is in the process of acquiring search engine Ask Jeeves and spinning off Expedia into a separate public company.

Investors certainly seemed to like Wednesday numbers. IAC shares rose 5.26% to close at $23.22.

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