IAC Earnings Miss Consensus But Revenue Tops Forecast

Media and internet services group IAC/InterActiveCorp. said its first-quarter earnings tripled to $26.2 million, or 29 cents a share, from $8.3 million, or 9 cents a share, though revenue fell 9% to $760.8 million. Analysts had expected earnings of 35 cents a share, but the company beat consensus of $717.4 million on revenue. Improved results at its Match Group unit helped offset declines in paid search traffic. The company, which announced it was buying Angie's List on Monday, expects adjusted EBITDA between $538 million and $618 million for the year.