USA Interactive’s Cash Earnings Rise
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Media mogul Barry Diller’s USA Interactive Inc. said that third-quarter cash earnings rose sharply from strength in its online units, including Expedia Inc. and Hotels.com, which offset weakness at its Home Shopping Network.
Quarterly cash earnings, which adjusts for one-time charges and noncash items, rose to $65.7 million, or 14 cents a share, compared with $6 million, or 1 cent a share, last year. USA says this is the best gauge of the company’s performance.
Revenue rose to $1.2 billion from $837.8 million last year on an actual basis.
Including all charges and gains, USA said it posted a net loss, based on generally accepted accounting principles, of $36.6 million, or 8 cents a share, contrasted with a net profit of $427.6 million, or 59 cents a share, a year earlier when it took a gain for the sale of USA Broadcasting to Univision.
Shares of USA rose $1.53 to $25.53 on Nasdaq.
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