IAC/InterActiveCorp (NASDAQ:IAC) reported its Q3 earnings, with EPS coming in at $0.33, beating the consensus estimate of ($0.42). The beat was on most business lines, with the majority of upside in Search, 16% ahead of the Street expectations.

Analysts at Oppenheimer believe, that a weak stock price reaction to the beat was due to ANGI’s near-term headwinds related to supply chain constraints. However, the analysts are optimistic that ANGI will acquire additional services companies. They also believe that the company will generate material synergies from the Meredith acquisition, even with FY22 as an "investment year".