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Shares of IAC (NASDAQ: IAC) were heading lower today after the holding company best known for being the majority shareholder of Angi (NASDAQ: ANGI) posted disappointing results in its second-quarter earnings report.
As of 3:22 p.m. ET, the stock was down 15.3%.
Revenue in the quarter declined 18% to $1.11 billion, just short of estimates at $1.12 billion. At Dotdash Meredith, its publishing division, revenue fell 15% to $414 million, and revenue at Angi was off 16% on a pro forma basis to $375 million.