IAC/InterActiveCorp posts a profit

IAC/InterActiveCorp posts a profit

IAC/InterActiveCorp has posted a fourth-quarter profit. The company gained from the sale of 30 percent stake in Jupiter Shop Channel.

The company however is struggling due to the weakening economic conditions. They have now adjusted earnings.

The revenues failed to match the market expectations.

The company posted earnings of $227.4 million in the quarter. This is an improvement on losses of $369.9 million in the same period previous year.

The revenues were however down at $351 million.

Market analyst Ross Sandler spoke about the company’s performance: “Net-net it’s a modest miss, but nothing disastrous here.”