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The Angi owner delivered better revenue and earnings results than the market expected. Revenues were still down 18% year over year, reflecting lower traffic and advertising revenues in the media publishing businesses.
While the top- and bottom-line numbers for IAC (IAC) give a sense of how the business performed in the quarter ended March 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
IAC (IAC) came out with a quarterly loss of $2.06 per share versus the Zacks Consensus Estimate of a loss of $1.10. This compares to loss of $0.56 per share a year ago.
Shares of IAC Inc. IAC are on the rise after the internet and media holding company posted sales of $1.08 billion, down 18% from a year ago but eclipsing analyst estimates of $1.06 billion. IAC posted fiscal first-quarter net earnings of $417.8 million, or $4.57 a share, vs.
The internet holding company is suffering from a slower advertising environment, but majority-owned Angi beat estimates.
We have narrowed our search to four stocks that are set to report earnings results today after market closes. These are: WYNN, CELH, RVNC and IAC.
The mean of analysts' price targets for IAC (IAC) points to a 55.5% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.
NEW YORK , April 12, 2023 /PRNewswire/ -- After the close of market trading on Tuesday, May 9, 2023, IAC (NASDAQ: IAC) will post its first quarter results and simultaneously IAC CEO Joey Levin will publish a letter to shareholders, which may include certain forward-looking information, at https://ir.iac.com/quarterly-results. On Wednesday, May 10, 2023, at 8:30 a.m.
Don't expect to value the company on a standard earnings ratio, though.
IAC Inc. (NASDAQ:IAC ) Q4 2022 Earnings Conference Call February 14, 2023 8:30 AM ET Company Participants Christopher Halpin - EVP, CFO and COO Joseph Levin - CEO, IAC Inc., CEO and Chairman, Angi, Inc. Conference Call Participants Jason Helfstein - Oppenheimer Cory Carpenter - JPMorgan John Blackledge - Cowen Ross Sandler - Barclays Brian Fitzgerald - Wells Fargo Dan Kurnos - The Benchmark Company Youssef Squali - Truist Securities Tom Champion - Piper Sandler Operator Welcome to the IAC and Angi Fourth Quarter 2022 Earnings Conference Call. All participants will be in listen-only mode.