IAC Q2 EPS $(1.71) Misses $(0.47) Estimate, Sales $949.50M Beat $943.05M Estimate
Portfolio Pulse from Benzinga Newsdesk
IAC (NASDAQ:IAC) reported Q2 earnings per share (EPS) of $(1.71), missing the analyst estimate of $(0.47) by 263.83%. This represents a 59.81% decrease from the same period last year. However, the company reported sales of $949.50 million, beating the estimate of $943.05 million by 0.68%, though this is a 14.61% decrease from the previous year.
August 06, 2024 | 8:12 pm
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NEGATIVE IMPACT
IAC reported Q2 EPS of $(1.71), missing estimates by a significant margin, while sales of $949.50M slightly beat expectations. The EPS miss and YoY decline in both EPS and sales could negatively impact the stock price in the short term.
The significant miss on EPS and the year-over-year decline in both EPS and sales are likely to weigh heavily on investor sentiment, leading to a short-term decline in IAC's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100