IAC posts quarterly loss with impairment charges

NEW YORK, July 30 (Reuters) - Internet conglomerate IAC/InterActiveCorp (IACI.O) posted a quarterly loss on Wednesday due to impairment charges for its online mortgage unit and its catalog business.

In what is expected to be the company's last consolidated earnings report before a planned spin-off of four units, IAC reported a second quarter net loss of $421.6 million, or $1.51 per share, compared with a profit of $94.6 million, or 31 cents per share a year ago.

Excluding charges for its Cornerstone catalog unit, its Tree.com online mortgage unit and other special items, IAC posted a profit of 35 cents per share. Revenue rose 7 percent to $1.6 billion.

Analysts on average had forecast earnings per share of 31 cents, before special items, on revenue of $1.6 billion, according to Reuters Estimates.

IAC, run by media veteran Barry Diller, plans to spin off its HSN cable shopping network, Ticketmaster box office service, Interval time-share network and LendingTree mortgage broker into four new publicly traded companies by early August. The remaining IAC will focus on web media and subscription businesses. (Reporting by Michele Gershberg; Editing by Derek Caney)