IAC Inc's stock experienced a significant after-hours plunge of 6.14% following the release of its fourth-quarter financial results. The sharp decline came as the company reported key metrics that fell short of market expectations.
The company posted a quarterly loss per share of $0.99, which missed the analyst estimate for a profit of $0.76. While revenue of $646 million slightly exceeded expectations, a critical segment showed severe weakness. Search revenue plummeted 68% year-over-year to just $29.0 million. Furthermore, the company's operating loss more than doubled to $113.4 million compared to $48.1 million in the prior-year period.
These disappointing results, particularly the substantial earnings miss and dramatic decline in search revenue, triggered the negative investor reaction in extended trading. The company also provided its full-year outlook for Adjusted EBITDA, forecasting a range of $260 million to $335 million.