Why IAC Stock Fell This Week
Week to date, shares of IAC (NASDAQ: IAC) were down 13% as of 10:46 a.m. ET on Friday, according to data provided by S&P Global Market Intelligence.
The holding company reported lower revenue in the second quarter than analysts anticipated, which weighed on the shares this week.
The company started to see weakness in revenue in the fourth quarter of last year, and it's still struggling through a challenging business environment. The Dotdash Meredith segment, including results from People, Food Wine, and Southern Living magazines, as well as its Angi home repairs business, reported double-digit year-over-year declines in revenue.
Source Fool.com
