IAC reports Q1 EPS (94c) vs ($2.64) last year

Reports Q1 revenue $422.9M, consensus $427.76M. “As we transition to a new simplified structure, as outlined in my Shareholder letter, I want to thank our many loyal employees who have made IAC‘s (IAC) success possible through the years”, said Barry Diller, Chairman and Senior Executive of IAC. “In particular, IAC officers Christopher Halpin and Kendall Handler, whose leadership has been instrumental in shaping and executing this plan to transition from our holding company roots to IAC’s next chapter as People Incorporated, both of whom I am certain will find continued success following their departures in August.”