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IAC/InterActiveCorp Reports Q2 Sales Beat

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IAC/InterActiveCorp Reports Q2 Sales Beat

IAC/InterActiveCorp (NASDAQ: IAC) reported a second-quarter sales beat on Wednesday.

Sales came in at $1.187 billion, beating estimates by $6 million. GAAP earnings came in at 1.19 per share, which may not compare to the 95 cent estimate.

The company also disclosed its intention to explore the possibility of a distribution of its interest in Match Group and ANGI homeservices Inc (NASDAQ: ANGI) to its shareholders. Match Group Inc (NASDAQ: MTCH) makes up 39% of IAC’s revenue.

Highlights

  • Match Group revenue increased 18%
  • Tinder average subscribers increased 1.5 million year-over-year to 5.2 million
  • ANGI Homeservices revenue increased 17%
  • Vimeo revenue increased 26%
  • Dotdash revenue increased 23%

IAC/InteractiveCorp shares closed Wednesday higher by 10.7% at $258.28, moving in sympathy with Match Group following its strong earnings report.

Related Links:

Benchmark Continues To See IAC As Core Long-Term Holding

Tinder CEO: Meeting New People Shouldn't Be Limited By Type Of Mobile Device

Photo courtesy of Tinder.

Posted-In: ANGI Homeservices Dotdash Tinder VimeoEarnings News After-Hours Center

 

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