Industry News

InterActiveCorp reports operating loss for real estate segment

Lending segment reports major gain, thanks to LendingTree
Published on Nov 1, 2005

The real estate segment at InterActiveCorp, the parent company to LendingTree and RealEstate.com, had an operating loss of $5.4 million for the third quarter, compared with an operating loss of $2.8 million in third-quarter 2004, the company reported today. Revenue for the real estate services segment was up 102 percent – from $8.1 million in third-quarter 2004 to $16.3 million in third-quarter 2005. Meanwhile, the company's lending operations improved from an operating income of $2.6 million in third-quarter 2004 to $25.3 million in third-quarter 2005. Revenue for that segment improved 258 percent – from $39.9 million in third-quarter 2004 to $142.8 million in third-quarter 2005. "The significantly higher revenue and profit generated from the loans LendingTree is closing in its own name and improved conversion of customer traffic into revenue-generating transactions benefited (lending) results. Refinance mortgages performed strongly and increased as a percent of revenu...

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