IAC/InterActiveCorp Reports Q2 Sales Beat

IAC/InterActiveCorp IAC reported a second-quarter sales beat on Wednesday.

Sales came in at $1.187 billion, beating estimates by $6 million. GAAP earnings came in at 1.19 per share, which may not compare to the 95 cent estimate.

The company also disclosed its intention to explore the possibility of a distribution of its interest in Match Group and ANGI homeservices Inc ANGI to its shareholders. Match Group Inc MTCH makes up 39% of IAC’s revenue.

Highlights

• Match Group revenue increased 18%
• Tinder average subscribers increased 1.5 million year-over-year to 5.2 million
• ANGI Homeservices revenue increased 17%
• Vimeo revenue increased 26%
• Dotdash revenue increased 23%

IAC/InteractiveCorp shares closed Wednesday higher by 10.7% at $258.28, moving in sympathy with Match Group following its strong earnings report.

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Photo courtesy of Tinder.