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IAC/Interactive: 2Q Earnings Snapshot

NEW YORK (AP) _ IAC/InterActiveCorp (IAC) on Wednesday reported second-quarter profit of $113.5 million.

On a per-share basis, the New York-based company said it had net income of $1.19.

The results topped Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The media and internet company posted revenue of $1.19 billion in the period, which also beat Street forecasts. Six analysts surveyed by Zacks expected $1.18 billion.

IAC/Interactive shares have risen 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $258.28, an increase of 66% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IAC at https://www.zacks.com/ap/IAC