IAC Slips To Loss In Q2 - Quick Facts

(RTTNews) - IAC/InterActiveCorp (IACI) said that its second-quarter net loss attributable to shareholders was $17.996 million, compared to net income of $58.29 million in the year ago quarter. Loss per share was $0.22, compared to earnings per share $0.67 per share in the prior year.

Adjusted net income was $3.18 million down from $82.87 million in the year ago quarter. Adjusted earnings per share fell to $0.04 from $0.95 last year.

Net loss and adjusted net income in the latest-period reflected the $66.6 million after-tax effect of the write-downs of certain investments.

Revenue for the quarter dropped 5% to $756.3 million from last year's $799.4 million, as solid growth at The Match Group and HomeAdvisor and strong growth at Vimeo were more than offset by declines at Search & Applications, the closure and sale of Newsweek print and digital and the restructuring of CityGrid Media.

Analysts polled by Thomson Reuters expected the company to report earnings of $0.81 per share and revenues of $796.63 million for the quarter. Analysts' estimates typically exclude special items.

IAC increased its quarterly cash dividend over 40% to $0.34 per share; the dividend is payable on September 1, 2014 to IAC stockholders of record as of the close of business on August 15, 2014.