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IAC revenue growth aided by HSN


NEW YORK InterActiveCorp today reported revenue of $1.5 billion for the third quarter 2007, a 7% increase over the prior year. The company reported adjusted earnings per share of 37 cents, compared to 35 cents in the year ago period.

According to the company, the revenue increase was driven in part by its retailing sector. Total retail revenue was $700.4 million, which included a 5% revenue increase at HSN, excluding America's Store.

IAC reported that retailing results reflect a higher overall average price point as a result of a product mix shift, partially offset by lower units shipped. During the quarter, HSN improved sales efficiency across the majority of its product categories.

Commenting on results, IAC chairman and ceo Barry Diller said, “Trends at our businesses are good, and particularly so at HSN, where I believe that Mindy Grossman and her team have now become acclimated and are beginning to demonstrate the great retailing smarts that we knew they were capable of.”

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