(Reuters) -IAC missed Wall Street expectations for quarterly revenue on Monday, as fewer visitors reached its ad-supported search and content websites amid the rise of AI-generated summaries, sending its shares down 10% in trading after the bell.

The media and internet firm’s search unit reported a 41% decline in third-quarter revenue, hurt by reduced traffic to traditional organic search listings as users got answers directly from Google AI Overviews without clicking through to the websites.

Overall revenue declined 8% to $589.8 million, below estimates of $601.6 million, according to data compiled by LSEG.

Revenue from its Care.com segment fell 5% due to lower subscriptions on its platform.

However, IAC’s largest unit People reported a 9% increase in digital revenue, driven by strong

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