IAC Inc reports results for the quarter ended in June - Earnings Summary

People Incorporated

07/08/2024 19:00

* IAC Inc  IAC.OQ  reported a quarterly adjusted loss of
$1.71​​
per share for the quarter ended in June, lower than the same
quarter last year, when the company reported EPS of $-1.07.  The
mean expectation of ten analysts for the quarter was for a loss
of 47 cents per share. Wall Street expected results to range
from -82 cents to -20 cents per share.
    * Revenue fell 14.6% to $949.53 million from a year ago;
analysts
expected $943.05 million. 
    * IAC Inc's reported EPS for the quarter was a loss of
$1.71​.
    * The company reported a quarterly loss of $142.23 million.
    * IAC Inc shares had fallen by 2.7% this quarter and
lost 12.9% so
far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 13.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 11 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the online
services
peer group is also "buy"

Wall Street's median 12-month price target for IAC Inc is $73.00
This summary was machine generated from LSEG data August 7 at
06:00 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 1 0001       -0.47          -1.71          Missed
 Mar. 31 2024      -1.19          0.51           Beat
 Dec. 31 2023      -0.19          3.61           Beat
 Sep. 30 2023      -0.67          -4.72          Missed