The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: I guess, shifting to capital allocation. Can you give us an update on how you're thinking about the various outlets for deployment for the rest of
the year? Obviously, nice to see the share repurchase in the quarter. Do you think you'll continue to be active there? And any updates on -- your
thoughts around M&A and where you think that could fit most nicely into the existing business?
Question: Ryan John Tomasello - Keefe, Bruyette, & Woods, Inc., Research Division - Analyst
: Great. Thanks for that. And I know we've already spent a good amount of time on the headwinds in mortgage, but I think it would be helpful if you
could put more specific assumptions around what you're -- how you're viewing the market outlook this year versus, say, what you were thinking
back in February. I realize that there's no direct framework, but if it's possible to put any guardrails around the revenue and earnings sensitivity to
worse- or better-than-expected conditions in that market, particularly if purchase begins to fade, given the affordability pressures that continue
to build there?
Question: Melissa Marie Wedel - JPMorgan Chase & Co, Research Division - Analyst
: Wanted to follow up on some of your comments on TreeQual. I'm unclear if, has the scope expanded on that in terms of incorporating more network
partners into TreeQual? Or has that -- is that stable? And if so, are you still on track to sort of implement that across most of the space by year-end?
Question: Melissa Marie Wedel - JPMorgan Chase & Co, Research Division - Analyst
: Yes. No doubt, the functionality of TreeQual is certainly compelling. I think one of the other things that jumped out to me in looking through your
letter this morning is that you noted dramatically improved performance for those partners who have been onboarded so far. I was hoping we
could dig into that a little bit. Are there any -- I guess, I'm wondering what metrics you're looking at or they're looking at? And then does that, are
you seeing already an increase in allocated budget to LendingTree versus others as a result of that? Or how would you see that filter through?
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