Update at 8:12 a.m. PST: Analyst comments and stock price added.
InterActiveCorp turned a profit in the fourth quarter but took a 7 percent revenue hit, amid a sharp downturn in its advertising and media business, the company said Tuesday.
Barry Diller's media conglomerate reported revenue of $351 million in the quarter, down from $378.9 million in the same quarter a year earlier. That performance missed Wall Street expectations of $368 million, analyst Imran Khan of J.P. Morgan said in a note.
The company, however, posted a profit of $227.4 million, or $1.57 … Read more