IAC/InterActiveCorp Earnings: Shrinking Margins for Fifth Consecutive Quarter, Net Income Falls
Rising costs hurt IAC/InterActiveCorp (NASDAQ:IACI) in the fourth quarter as profit dropped from a year earlier. IAC operates internet businesses in the United States and a number of jurisdictions abroad.
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IAC/InterActiveCorp Earnings Cheat Sheet for the Fourth Quarter
Results: Net income for the catalog and mail order house fell to $48.8 million (90 cents per share) vs. $87 million (53 cents per share) a year earlier. This is a decline of 43.9% from the year earlier quarter.
Revenue: Rose 32.2% to $596.9 million from the year earlier quarter.
Actual vs. Wall St. Expectations: IACI reported adjusted net income of 70 cents per share. By that measure, the company beat the mean estimate of 42 cents per share. It beat the average revenue estimate of $566.1 million.
The company has now topped analyst estimates for the last four quarters. It beat the mark by 5 cents in the third quarter, by 21 cents in the second quarter, and by 8 cents in the first quarter.
Looking Forward: The outlook for the company’s next quarter performance is unfavorable. Estimates have gone down from an average 30 cents per share to 27 cents over the past seven days. The average estimate for the fiscal year is $1.29 per share, down from $1.40 ninety days ago.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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