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by CareyBot

Second-quarter earnings fell sharply at IAC/InterActiveCorp, the parent company of online lending service LendingTree and, a consumer real estate portal. The media and Internet company reported net income of $53.8 million, or 17 cents a share, down 91 percent from $618.1 million, or $1.77 a share, during the same period a year ago. Second-quarter revenue grew 18 percent to $1.6 billion from $1.37 billion a year ago. IAC's lending segment contributed $9.8 million in operating income, down 37 percent $15.6 million a year earlier. The lending segment added $107.9 million in revenue, a 26 percent spike from $85.4 million during the same quarter last year. "Lending revenue was driven primarily by higher revenue per loan sold, increased sales of loans into the secondary market, ...