IAC Swings To Loss, Misses Adjusted Earnings, Revenue Forecast

Shares of IAC fell on Tuesday following a fourth-quarter revenue and earnings miss for the media and Internet company. IAC swung to a quarterly loss of $32 million in the quarter, versus gains of $70.2 million in the year-ago period. Adjusted for one-time items, the company said it earned $64.7 million, or 75 cents a share, in the quarter, compared with $89.7 million, or $1, in the fourth quarter of 2014. Revenue hit $848.7 million, up from $830.8 million a year ago. Analysts polled by FactSet had expected IAC to report adjusted earnings of 93 cents a share on sales of $867 million. The company owns Internet brands such as Vimeo and Investopedia, and late last year spun off its dating business, Match Group Inc. , which owns several dating sites, including Tinder and Match.com. Shares of IAC fell 1.7% in late trading Tuesday after ending the regular trading day down 2.1%.