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by CareyBot

Online business conglomerate InteractiveCorp, the parent company of online lending and realty services exchange LendingTree, reported first quarter net income of $38 million, or 5 cents per share, compared with a loss of $110 million, or 23 cents per share a year ago. Total revenue grew 6 percent to $1.5 billion from $1.4 billion the previous year. Revenue at LendingTree was up 2 percent over the prior year, despite a 45 percent drop in industry-wide home loan refinancings, the company said. InteractiveCorp reported revenue of $39.7 million from the financial services and real estate segment, which posted a $3.6 million loss in operating income and a $3.1 million gain in operating income before amortization. "Results (at LendingTree) were driven by purchase mortgage activity, which more ...