Industry News

InterActiveCorp narrows real estate loss

Revenue from purchase mortgages grows 91%

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E-commerce company IAC/InterActiveCorp, parent company to LendingTree, today reported a fourth-quarter loss of $46 million, or 7 cents a share, down from $152.8 million, or 20 cents a share, in fourth-quarter earnings the previous year. Revenue was $1.7 billion, up 9 percent on a comparable net basis. InterActiveCorp's holdings include home shopping, ticket, travel, lodging, dating, and mortgage and real estate-related businesses. The company grew revenue in its financial services and real estate segment, while narrowing its quarterly loss in the segment from the previous year. Revenue in the financial services and real estate channel, which includes LendingTree and RealEstate.com, among other holdings, grew 83 percent to $57.5 million in the fourth quarter. That growth was driven primarily by acquisitions, including HomeLoanCenter and iNest, and growth in existing business lines, the company said. Revenue from purchase mortgages, refinance mortgages, home equity and real estate t...