IAC/InterActive Corp., the parent of search engine Ask Jeeves, online services Match.com and CitySearch and such merchant Web sites as Ticketmaster, LendingTree.com, Gifts.com and HSN.com, reported today that its earnings for third-quarter 2005 declined 24%, due mostly to costs related to the spin-off of online travel broker Expedia and other corporate transactions.
IAC posted net income of $68.1 million for the quarter, compared to $89.5 million for the same quarter 2004. Q3 2005 sales of $957.3 million were up 55% year-over-year, due primarily to the acquisitions in April of both Ask Jeeves and Cornerstone Brands, a holding company for numerous catalog retailers including Ballard Designs, Frontgate, The Territory Ahead and TravelSmith Outfitters.
Despite the earnings falloff, IAC still managed to exceed analysts
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