IAC Q4 Profit Down

(RTTNews) - IAC (IAC) reported that its fourth-quarter net earnings attributable to shareholders decreased to $100.43 million or $1.05 per share from $191.75 million or $2.04 per share in the prior year.

Revenue for the quarter grew to $1.22 billion from $1.10 billion prior year.

IAC and Match Group reached an agreement on December 19, 2019 providing for the full separation of Match group from the remaining businesses of IAC. The transaction is expected to close in the second quarter of 2020.

Match Group revenue increased 20% to $547.2 million and Average Subscribers increased 19% to 9.8 million.Tinder Average Subscribers increased 36% to 5.9 million and full year Tinder Direct revenue increased 43% to $1.2 billion.