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LendingTree swings to profit, raises outlook

LendingTree Inc. (NasdaqNM:TREE - News), the Internet-based loan provider being bought by Barry Diller's InterActiveCorp (NasdaqNM:IACI - News), on Tuesday said it swung to a second-quarter profit, as consumer loan requests nearly doubled.

The Charlotte, North Carolina-based company reported net income of $7.6 million, or 25 cents per share, compared with a loss of $1.1 million, or 5 cents per share, a year earlier.

LendingTree also said it increased its full-year profit target by more than 20 percent, and its full-year revenue target by about 10 percent.
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