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You've got to love companies that are up to the challenge of posting quarterly results on Halloween. In the case of IAC/InterActiveCorp (Nasdaq: IACI), it was more treats than tricks as the company beat Wall Street's profit targets for the fifth straight time.
IAC posted an 11% boost in September quarter revenue to $1.6 billion. Profits clocked in at $0.24 a share after a $0.20-per-share showing a year earlier. However, analysts prefer to key in on the operating profits of an acquisitive-happy company like IAC before considering amortization costs. On that basis, the pros were expecting $0.33 a share, while the company wound up earning $0.35 a share.
IAC's Got Candy Everybody Wants [news.moneycentral.msn.com]
IAC, of course, owns Ask.com
Financial analysts say that IAC/Interactive’s performance, beyond its stock price, is less than stellar. For example, they note that the company is earning less than half as much on its capital as it is paying to borrow it.
“Returns are now improving, but it is like a dredging exercise,” said Bennett Stewart, chief executive of EVA Dimensions, a financial research firm. “You’re pulling the boat out but it is still underwater.”