IAC Third Quarter 2022 Earnings: Misses Expectations
IAC (NASDAQ:IAC) Third Quarter 2022 Results
Key Financial Results
Revenue: US$1.30b (up 41% from 3Q 2021).
Net loss: US$63.8m (down by 209% from US$58.7m profit in 3Q 2021).
US$0.72 loss per share (down from US$0.68 profit in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
IAC Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.3%. Earnings per share (EPS) also missed analyst estimates by 27%.
Looking ahead, revenue is forecast to grow 7.0% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Interactive Media and Services industry in the US.
Performance of the American Interactive Media and Services industry.
The company's shares are down 8.7% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We've done some analysis and you can see our take on IAC's balance sheet.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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