IAC/InterActiveCorp, the parent company to LendingTree and RealEstate.com, today reported increased earnings within its Financial Services and Real Estate segment for the second quarter, driven mostly by LendingTree. Revenue for the Financial Services and Real Estate segment was $130.3 million, up from 44.6 million during the same period last year. Operating income was $6.2 million within the sector, compared with a loss of $1.2 million a year ago. The higher results within the segment were driven primarily by 194 percent higher revenue per transaction, the company said, reflecting LendingTree's strategy to close in its own name a portion of the loans sourced through the LendingTree network. LendingTree entered the mortgage business in September 2004 with the purchase of online direct mo...
Get Inman via Facebook Messenger
Our top headlines delivered once a day.