IAC Reports Q4 2003 Results
NEW YORK, Feb. 9 /PRNewswire-FirstCall/ — IAC/InterActiveCorp (Nasdaq:
IACI) reported Q4 2003 results today. Revenue grew 36% over the prior year
to $1.8 billion and operating income grew 142% to $179 million.
IAC/InterActiveCorp (Nasdaq: IACI) is the world’s leading multi-brand
interactive commerce company. IAC consists of IAC Travel, which includes
Expedia, Inc., Hotels.com, Hotwire, Interval International, and TV Travel
Shop; HSN; Ticketmaster, which oversees Evite and ReserveAmerica;
Match.com; Lending Tree; IAC Local Services, which includes Citysearch and
Entertainment Publications; and Precision Response Corporation.
IAC reported the following segment results for the fourth quarter ended
December 31 ($ in millions):
REVENUE for Ticketing: 4th Quarter 2003 – $183.0; 4th Quarter 2002 –
$164.3; Growth – 11%
Ticketing results were driven mainly by increased average revenue per
ticket as a result of favorable currency exchange rates on international
sales and contractual increases to convenience charges; and higher tickets
sold primarily due to more concerts in the domestic market, led by internet
onsales for Shania Twain and Bette Midler, and ticket sales related to the
World Series. Ticketing margins expanded due to benefits of scale
associated with higher revenue, online migration, greater cost efficiencies
and the resolution of tax contingencies.