IAC 4Q Results Beat Expectations; Management Provides In-Line 2018 Guidance; Raising FVE to $160
IAC ended 2017 with strong fourth-quarter results as it beat all expectations both on the top and bottom lines. Outstanding performance by Match Group was the main driver for such an upbeat quarter. In addition, while posting a GAAP operating loss, ANGI Homeservices is making headway in integrating Angie’s List and HomeAdvisor. Plus, video segment revenue continues to grow, driven by a higher number of subscribers. We adjusted our revenue estimates higher mainly due to Match and a bit more optim...
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