InterActiveCorp Shares Fall on Earnings Report
From Associated Press
Shares of Barry Diller’s InterActiveCorp slumped as the electronic commerce company reported third-quarter earnings that disappointed investors. The company also said full-year results could fall short of estimates.
The company, which owns Ticketmaster, Expedia and the Home Shopping Network, swung to a profit in the quarter ended Sept. 30, reporting net income of $18.7 million, or 2 cents a share, contrasted with a net loss of $36.6 million, or 8 cents, in the same period last year. Revenue rose 36% to $1.61 billion.
InterActiveCorp’s shares closed at $34.19, down $2.81, or 7.6%, on Nasdaq.
