Diller’s IAC Falls Short of Estimates

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InterActiveCorp posted a third-quarter profit Wednesday, but Barry Diller’s company trailed Wall Street estimates, Reuters reported.

The company said travel-business revenue and acquisitions helped it to report a net profit of $18.7 million, or 2 cents per share, versus a loss of $36.6 million (8 cents) in the year-ago quarter.

But the cost of repaying debt caused IAC’s adjusted earnings to come up short of Wall Street estimates.

The company’s revenue rose to $1.61 billion from $1.19 billion in the third quarter of 2002, while adjusted earnings rose to $129.6 million, or 17 cents per share, from $47.5 million (7 cents).

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