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InterActiveCorp (IACI -5.1%) saw a big mid-day plunge after filing an 8-K in which it guides for...

InterActiveCorp (IACI -5.1%) saw a big mid-day plunge after filing an 8-K in which it guides for a 2013 operating loss of $28.2M-$33.2M for its Media & Other segment, which includes Newsweek. However, shares have since recouped a chunk of their losses. IAC, which reported a Q3 beat this morning, suggests its 8-K was misread.
Comments (2)
  • Westpark
    , contributor
    Comments (13) | Send Message
     
    The operating loss is for the media segment, a small drag on overall OIBA. For reference, prior to today Opco's 2013E for the media segment was a $20M loss. Total OIBA for 2013 was projected to be ~$600M. Therefore the addition ~$10M loss is a relative drop in the bucket, especially compared to your assertion that the entire company will have a $28.2-$33.2M operating loss next year. Nice work on perpetuating the error, though.
    24 Oct 2012, 03:26 PM Reply Like
  • TripaxCap
    , contributor
    Comment (1) | Send Message
     
    This story is incorrect. The 8-k referred to guidance for one small segment only (not as you suggest ignoring certain expenses). The company issued verbal guidance for strong growth on a consolidated basis on its call
    24 Oct 2012, 03:40 PM Reply Like
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