IAC Rebounds to Report Fourth-Quarter Profit

Internet conglomerate IAC/InterActiveCorp swung to a profit in the fourth quarter as acquisitions and strong growth at Ticketmaster and LendingTree boosted results.

IAC, which also owns the HSN home-shopping network, Citysearch and recently acquired Ask Jeeves, said its online services group drove the quarter’s growth with a 46% gain in revenue during the quarter.

IAC earned $113.1 million, or 33 cents a share, improving from the 2004 quarter’s loss of $45.9 million, or 13 cents. Revenue increased 45% to $1.79 billion.

Stripping out stock-option costs and certain one-time items, IAC said it earned 52 cents a share, beating by 6 cents the average analyst estimate of 46 cents a share, according to a Thomson Financial poll.

The New York company’s shares rallied on the report, rising 35 cents, or 1.3%, to close at $28.01.