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.