Industry News

InterActiveCorp grows real estate revenue

Reports $47.9 million in third quarter

Barry Diller's media conglomerate InterActiveCorp today reported revenue in its financial services and real estate segment grew to $47.9 million in the third quarter, up from $24.4 million a year ago. The segment includes revenue from LendingTree, RealEstate.com, GetSmart and Domania. The financial services and real estate arm had an operating loss of $200,000, representing a growth of 96 percent from the operating loss of $4.9 million during the third quarter of 2003. The number of real estate and loan transactions closed during the quarter fell to 68,900 in the third quarter from 90,700 during the same quarter last year. The volume of transactions closed was $7.6 billion, down 28 percent from $10.6 billion a year ago. Purchase mortgage revenue grew 104 percent, real estate revenue grew 34 percent, home equity revenue grew 22 percent and other services revenue grew 95 percent. The company said the favorable growth trends were partially offset by a 53 percent decrease in revenue f...