NEW YORK (AP) — NEW YORK (AP) — IAC Inc. (IAC) on Tuesday reported first-quarter earnings of $45 million.

On a per-share basis, the New York-based company said it had net income of 51 cents. Losses, adjusted for non-recurring gains, came to 93 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of $1.14 per share.

The Y posted revenue of $929.7 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $937.7 million.

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