You will be redirected back to your article in seconds

IAC breakup causes quarterly loss

10% revenue gain raises shares by 3%

A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter.

But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets.

In the year-ago quarter, IAC posted a profit of $70.5 million. Despite the loss, Diller said it had been worth the struggle to spin off four units to create the five-pronged structure — a move that prompted a headline-grabbing legal feud with major shareholder John Malone.

Like traditional media congloms, IAC faces a brutal ad climate. Its media and advertising spending climbed only 2% from the year-ago period to $193.3 million.

IAC operates sites like Ask.com, Match.com and Tina Brown’s news site The Daily Beast.

More Digital

  • Netflix Execs Call Film Critics 'Disconnected'

    Netflix Execs Call Critics 'Disconnected' for Bashing 'Bright' Film

    A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter. But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets. In […]

  • Netflix lobby

    Netflix Execs Say They’re Not Afraid of Disney’s Streaming Service

    A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter. But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets. In […]

  • Bright Netflix

    Netflix Blasts Past Q4 Subscriber-Growth Expectations, Shares Soar to All-Time High

    A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter. But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets. In […]

  • Rupert Murdoch

    Rupert Murdoch: Facebook Should Pay Publishers Just as Cable Operators Pay for TV

    A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter. But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets. In […]

  • vice_logo

    British Presenter Details Allegations of Inappropriate Behavior by Vice Media

    A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter. But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets. In […]

  • Vevo Product Head Mark Hall Exits

    Vevo Head of Product Leaves Month After CEO Departure (EXCLUSIVE)

    A $20.8 million charge related to the breakup of IAC/InterActive Corp. into five operating units sent Barry Diller’s Netco to a quarterly loss of $14.8 million for the quarter. But a better-than-expected 10% gain in revenue to $369.3 million helped shares rise more than 3% to $17.14 on a tough day in the markets. In […]

More From Our Brands

Access exclusive content