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 NEW YORK (AP) - IAC/InterActiveCorp., owner of Citysearch and Ticketmaster, predicted Thursday that its second-quarter results will feel pressure from lower sales at its HSN home shopping network and LendingTree units after posting higher first-quarter net earnings.
The company said its first-quarter net profit rose 31.6 percent, boosted by good results from Ticketmaster and Ask.com that offset declines at HSN and LendingTree. The lower sales at those two businesses led to a 4.9 percent drop in operating income before amortization, a key performance measure.
The New York-based Internet conglomerate run by billionaire Barry Diller reported that net profit in the quarter ended March 31 rose to $62 million, or 20 cents per share, from $47.2 million, or 14 cents per share, a year ago.
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