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IAC Q1 Loss Narrows, Revenue Falls; Shares Drop After Hours

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IAC (IAC) reported a Q1 loss late Monday of $0.94 per diluted share, narrowing from the loss of $2.64 a year earlier.

Analysts polled by FactSet expected a loss of $0.37.

Revenue in the three months ended March 31 fell to $422.9 million from $481.7 million a year earlier.

Analysts surveyed by FactSet expected $520.3 million.

IAC shares fell 8.6% in after-hours trading.

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