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IAC/Interactive beats Street 4Q forecasts

NEW YORK (AP) _ IAC/InterActiveCorp (IAC) on Wednesday reported fourth-quarter net income of $102.1 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had net income of $1.18. Earnings, adjusted for one-time gains and costs, were $1.38 per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 95 cents per share.

The media and internet company posted revenue of $811.2 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $781.7 million.

For the year, the company reported a loss of $41.3 million, or 52 cents per share, swinging to a loss in the period. Revenue was reported as $3.14 billion.

IAC/Interactive shares have increased slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $68.24, a rise of 31 percent 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

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Keywords: IAC/Interactive, Earnings Report