IAC Q1 Profit Decreases On Higher Expenses - Quick Facts

(RTTNews) - IAC (IACI) reported first-quarter net income to shareholders of $26.4 million or $0.30 per share, compared to $35.9 million or $0.41 per share, prior year. Adjusted earnings per share was $0.43, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.35 for the quarter. Analysts' estimates typically exclude special items.

Total operating costs and expenses were $737.39 million, compared to $668.53 million, last year. Operating income decreased to $35.1 million from $71.7 million.

Revenue increased to $772.5 million from $740.2 million last year. Analysts expected revenue of $772.25 million for the quarter. Consolidated revenue increased 4% year-over-year in the first quarter driven by solid growth at The Match Group, Media and eCommerce, partially offset by modest declines at Search & Applications.