IAC Earnings: Double-Digit Revenue Growth Lifts Shares

IAC/InterActiveCorp. (NASDAQ:IACI) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.98%.

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IAC/InterActiveCorp. Earnings Cheat Sheet

Results: Net income decreased -16.55% to $40.7 million (70 cents per diluted share) in the quarter versus a net gain of $48.77 million in the year-earlier quarter.

Revenue: Rose 28.2% to $765.3 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: IAC/InterActiveCorp. reported adjusted net income of 70 cents per share. By that measure, the company missed the mean analyst estimate of $0.78. It beat the average revenue estimate of $758.1 million.

Key Stats (on next page)…

Revenue increased 7.11% from $714.47 million in the previous quarter. Net income decreased 0.05% from $40.72 million in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.82 to a profit $0.8. For the current year, the average estimate is a profit of $2.83, which is the same with that ninety days ago.

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(Company fundamentals provided by Xignite Financials.)