IAC (NSDQ: IACI) managed to get its earnings out after all… the internet conglomerate, locked in a court battle with Liberty Media (NSDQ: LINTA), reported Q4 revenue of $1.86 billion, up 8 percent year-over-year from $1.72 billion. It booked a big $369.9 million net loss in the quarter, primarily associated with a big writedown in its lending (LendingTree) business. The mixed results are being used by Barry Diller to make the case for the proposed break-up: “There is good news and bad news this quarter—the mix of which is another reason why our previously announced plans to reorganize IAC into five independent public companies makes more and more sense.” Some divisional highlights:

-- IAC, as it would appear post-spin, reported revenue growth of 21 percent to $459.8 million. This was helped by 42 advertising growth in media & advertising and 14 percent growth at its Match.com business. Operating losses in the unit narrowed to $59.2 million from a loss of $184.1 million. The revenue impact from proprietary and network sites have reversed, as Network revenue contributed 51.7 percent of media revenue, compared to 44.5 percent. Increased adoption of its toolbar and sponsored listings contributed to the change.

-- HSN, again as it would report post-spin, grew revenue by 3 percent to $905.3 million.

-- Higher worldwide ticket volume grew revenue at TicketMaster 27 percent to $354.7 million.

Release | Webcast (11:00 AM ET)

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