IAC Writes Down Search Business; Takes $1 Billion Loss For Q4 (paidContent.org via Yahoo! Finance)
IAC bit an accounting bullet in Q4, taking a $991 million impairment charge for its search & media business—including Ask and excluding Citysearch. Without that after-tax charge and an unrelated write down for $12.2 million, IAC would have turned in earnings per share of $.20, an 88 percent drop from the same quarter last year but still beating estimates.
Originally posted here:
IAC Writes Down Search Business; Takes $1 Billion Loss For Q4 (paidContent.org via Yahoo! Finance)
