USA Interactive's online properties rake in revenue
Barry Diller's media company USA Interactive reported a third-quarter loss but beat Wall Street expectations due to a 42 percent surge in revenues, according to this New York Times story (registration required):
For the three months ending Sept. 30, the media company reported net loss of $36.6 million, or 8 cents per share, compared with net income of 450.9 million, or 59 cents per share in the third quarter of 2001.
The company said that third quarter revenues increased 83 percent at Hotels.com and 110 percent at Expedia.com. Both Web sites provide online booking for travel services. Revenues at Match.com, an online matchmaking service, surged 168 percent.
For the nine months ending Sept. 30, revenues were $3.28 billion, compared with $2.52 billion in the comparable period of 2001. Net income was 1.83 billion, or $3.96 per share, compared with $524.7 million, or 69 cents a share.