Two in a Row for IAC

Barry Diller’s IAC/InterActiveCorp (IACI) racked up its second profitable quarter in a row Tuesday despite a decline in advertising. The company–which runs Ask.com and the Citysearch online city guide, among other things–posted earnings of $21.3 million, or 16 cents a share, compared with a year-earlier loss of $15.2 million, or 11 cents a share. Revenue decreased 8.9 percent to $336.6 million. Analysts surveyed by Thomson Reuters projected earnings of 13 cents on revenue of $335 million.