Barry Diller's IAC reports jump in 3rd-qtr revenue
Oct 24 (Reuters) - Web conglomerate IAC/InteractiveCorp reported higher quarterly revenue but profit fell almost 40 percent due to a tax benefit from the same period a year ago.
Revenue for the company controlled by media veteran Barry Diller increased 38 percent in the third quarter to $714.5 million, boosted by its search and dating businesses, which include brands like Ask.com, Dictionary.com and Match.com.
Analysts expected revenue of $692.8 million, according to Thomson Reuters I/B/E/S.
Net income fell to $40.7 million, or 43 cents per share, from $65 million, or 69 cents per share, in the same quarter last year.
The company was helped last year by tax benefit associated with its investment in Meetic.
At its media properties, IAC's operating loss widened to $13.2 million from $2.8 million during the same period a year ago due mainly to weakness at Newsweek Daily Beast.
IAC said last week it would cease the print version of Newsweek at the end of the year.