IAC down on weak Q2 results

People Incorporated

09/08/2023 14:40

** Shares of media and internet company IAC  IAC.O  down
14.2% at $57.59
    ** Co on Tuesday reported a slump in Q2 revenue 
    ** Q2 revenue down 18% to $1.11 bln, from $1.36 bln a year
earlier 
    ** Analysts on avg expected Q2 revenue to be $1.12 bln -
Refinitiv
    ** Fourteen of 16 brokerages rate the stock "buy" or higher,
2 "hold"; their median PT is $82
    ** Including session's move, IAC up 27.2% YTD

 (Reporting by Pritam Biswas in Bengaluru)
 ((Pritam.Biswas@thomsonreuters.com))