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.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety