IAC/Interactive Q1 Revs Beat, EPS Misses; Fat Cash Pile

IAC/Interactive (IACI) this morning posted Q1 revenue of $332 million, down 10 percent from a year ago, but a bit above the consensus at $329.7 million. However, the company lost two cents a share in the quarter on an adjusted basis, worse than the Street estimate for a break-even quarter.

IACI said the weak quarter reflected “broader economic pressures on advertising,” as well as actions taken at Ask.com to improve the user experience which have reduced monetization near term.

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