IAC/Interactive: 2Q Earnings Snapshot
Aug. 08, 2018
NEW YORK (AP) _ IAC/InterActiveCorp (IAC) on Wednesday reported second-quarter net income of $218.4 million.
The New York-based company said it had profit of $2.32 per share.
The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.
The media and internet company posted revenue of $1.06 billion in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $1.02 billion.
IAC/Interactive shares have increased 37 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $167.95, an increase of 59 percent in the last 12 months.