IAC reports Q2 EPS $2.57 vs ($1.71) last year

Reports Q2 revenue $586.9M, consensus $601.38M. “IAC‘s (IAC) second quarter earnings turn the page to a new era for the industry-leading People Inc., a name that fits the way good names should: effortlessly and intuitively. With seven consecutive quarters of Digital revenue growth, People Inc. continues to build and innovate, backed by premier brands, superior technology and unmatched scale,” said Barry Diller, Chairman and Senior Executive, IAC. “We may have been quiet on capital allocation this quarter but don’t mistake silence for inertia. Our appetite to put our cash to work is as strong as ever, be it buying back more of our stock or going after new strategic fits that emerge. Unconstrained, we intend to do exactly as we set out to do – catalyze opportunities, optimize our assets, and unlock shareholder value.”