NEW YORK, Aug. 7, 2024 /PRNewswire/ -- IAC (NASDAQ: IAC) will participate in the Oppenheimer 27th Annual Technology, Internet & Communications Conference on Tuesday, August 13, 2024. Christopher Halpin, Executive Vice President, CFO and COO of IAC will participate in a fireside chat at 1:15 p.m. ET. Both a live webcast and replay of the fireside chat will be available to the public in the IR section of IAC's website at https://ir.iac.com/events-and-presentations. About IAC IAC (NASDAQ: IAC) builds companies ...

IAC (IAC) reported $949.53 million in revenue for the quarter ended June 2024, representing a year-over-year decline of 14.6%. EPS of $0.01 for the same period compares to -$0.76 a year ago. The reported revenue represents a surprise of +1.17% over the Zacks Consensus Estimate of $938.59 million. With the consensus EPS estimate being -$0.32, the EPS surprise was +103.13%. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street e ...

IAC (IAC) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.32 per share. This compares to loss of $0.76 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 103.13%. A quarter ago, it was expected that this Y would post a loss of $1.14 per share when it actually produced a loss of $0.93, delivering a surprise of 18.42%. Over the last four quarters, the company has surpassed c ...

Core Insights - IAC will release its second quarter results on August 6, 2024, followed by a letter to shareholders from CEO Joey Levin [1] - A conference call will be held on August 7, 2024, at 8:30 a.m. ET to discuss the second quarter results of IAC and Angi Inc. [1] Company Overview - IAC is a company that builds and acquires brands, evolving from a single entity into 11 public companies over two decades [3] - The company operates category-leading businesses, including Angi Inc., Dotdash Meredith, and Care.com, and maintains a commitment to financially disciplined opportunism [3]

NEW YORK, May 23, 2024 /PRNewswire/ -- IAC (NASDAQ: IAC) will participate in the 52nd Annual TD Cowen Technology, Media and Telecom Conference on Thursday, May 30, 2024. Christopher Halpin, Executive Vice President, CFO and COO of IAC will participate in a fireside chat at 11:25 a.m. ET. Both a live audio webcast and replay of the fireside chat will be available to the public in the IR section of IAC's website at https://ir.iac.com/events-and-presentations. About IAC IAC (NASDAQ: IAC) builds companies. We a ...

NEW YORK, May 14, 2024 /PRNewswire/ -- IAC (NASDAQ: IAC) will participate in the 52nd Annual J.P. Morgan Global Technology, Media and Communications Conference on Wednesday, May 22, 2024. Joey Levin, CEO of IAC and Chairman of Angi Inc., will participate in a fireside chat at 10:00 a.m. ET. Both a live audio webcast and replay of the fireside chat will be available to the public in the IR section of IAC's website at https://ir.iac.com/events-and-presentations. About IAC IAC (NASDAQ: IAC) builds companies. W ...

IAC (IAC) reported $929.68 million in revenue for the quarter ended March 2024, representing a year-over-year decline of 14.3%. EPS of -$0.93 for the same period compares to -$2.06 a year ago.The reported revenue represents a surprise of -0.85% over the Zacks Consensus Estimate of $937.68 million. With the consensus EPS estimate being -$1.14, the EPS surprise was +18.42%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...

IAC (IAC) came out with a quarterly loss of $0.93 per share versus the Zacks Consensus Estimate of a loss of $1.14. This compares to loss of $2.06 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 18.42%. A quarter ago, it was expected that this Y would post a loss of $0.20 per share when it actually produced a loss of $0.73, delivering a surprise of -265%.Over the last four quarters, the company has surpassed consensus EPS esti ...

Revenue Performance - Dotdash Meredith's Digital revenue increased by 13% to $209.3 million, while Print revenue decreased by 10% to $185.9 million, resulting in a total revenue of $390.5 million, a 1% increase year-over-year [147]. - Angi Inc.'s total revenue decreased by 14% to $305.4 million, with Domestic Ads and Leads revenue down 15% to $249.6 million and Services revenue down 36% to $20.5 million [147]. - Total revenue for IAC decreased by 14% to $929.7 million compared to $1.08 billion in the same quarter last year [147]. - Dotdash Meredith revenue increased by 1% to $390.5 million, driven by a $24.5 million, or 13%, increase in Digital revenue, while Print revenue decreased by $21.1 million, or 10% [149]. - Angi Inc. revenue decreased by 14% to $305.4 million, with Ads and Leads down by $43.9 million, or 15%, and Services down by $11.6 million, or 36% [149]. Operational Metrics - Dotdash Meredith's Total Sessions decreased by 3% to 2.75 billion, while Core Sessions increased by 8% to 2.27 billion [147]. - Angi Inc. reported a 31% decrease in Service Requests to 4.1 million and a 15% decrease in Monetized Transactions to 5.5 million [147]. - The decrease in consumer connection revenue for Angi Inc. was primarily due to a $52.4 million, or 25%, decline in Monetized Transactions, reflecting fewer Transacting Service Professionals [149]. Expenses and Cost Management - Cost of revenue decreased by $70.965 million, or 21%, from $342.929 million in 2023 to $271.964 million in 2024, representing 29% of revenue compared to 32% in the prior year [149]. - Selling and marketing expenses decreased by $59.372 million, or 15%, from $403.297 million in 2023 to $343.925 million in 2024, maintaining 37% of revenue [151]. - General and administrative expenses decreased by $60.407 million, or 22%, from $273.076 million in 2023 to $212.669 million in 2024, representing 23% of revenue compared to 25% in the prior year [155]. - Product development expenses increased by $2.212 million, or 3%, from $84.787 million in 2023 to $86.999 million in 2024, accounting for 9% of revenue [156]. - Depreciation expenses decreased by $24.599 million, or 40%, from $36.573 million in 2023 to $61.172 million in 2024, representing 4% of revenue compared to 6% in the prior year [157]. Profitability and EBITDA - Operating loss decreased by $76.418 million, or 56%, from $135.596 million in 2023 to $59.178 million in 2024, with an increase in Adjusted EBITDA of $33.9 million [159]. - Dotdash Meredith's Adjusted EBITDA increased by $53.4 million to $30.2 million from a loss of $23.1 million, driven by a $12.6 million increase in Digital and a $49.2 million decrease in losses from Other [162]. - Angi Inc.'s Adjusted EBITDA rose by $6.3 million to $36.0 million, with contributions of $2.3 million from International, $2.2 million from Services, and $1.4 million from Ads and Leads [166]. - The Print segment's Adjusted EBITDA decreased by $8.4 million, primarily due to revenue declines [166]. - The Emerging & Other segment's Adjusted EBITDA loss increased by $19.8 million to a loss of $4.2 million, impacted by severance expenses and transaction-related costs [166]. Cash and Debt Management - As of March 31, 2024, Angi Inc. has cash and cash equivalents totaling $363.3 million, a slight decrease from $364.0 million on December 31, 2023 [181]. - Dotdash Meredith's cash and cash equivalents increased to $268.7 million from $261.6 million during the same period [181]. - IAC's total cash and cash equivalents and marketable securities reached $1.64 billion, up from $1.45 billion at the end of 2023 [181]. - IAC's long-term debt, net, stood at $1.98 billion as of March 31, 2024, a slight decrease from $1.99 billion at the end of 2023 [181]. - The Company's consolidated debt amounts to approximately $2.03 billion, with $1.53 billion in Dotdash Meredith Term Loans and $500 million in ANGI Group Senior Notes [203]. Investments and Future Outlook - The sale of Mosaic Group was completed for approximately $160 million on February 15, 2024 [133]. - The Services Agreement with Google is set to expire on March 31, 2025, which may impact future revenue [144]. - Angi Inc. completed the sale of its subsidiary Total Home Roofing on November 1, 2023, reflecting a strategic shift in its operations [133]. - The company anticipates a 40% to 50% reduction in capital expenditures for 2024 compared to $141.4 million in 2023, primarily due to prior land acquisition costs [196]. - The Company may need to raise additional capital through future debt or equity financing to make acquisitions and investments [200]. Tax and Other Financial Metrics - The income tax provision improved by $84.8 million to a provision of $54.7 million, with an effective income tax rate of 55% compared to 25% in the previous year [168]. - Interest expense decreased by $1.5 million to $38.2 million, primarily due to an increase in interest rates from 8.77% to 9.43% on Term Loan B and from 6.94% to 7.68% on Term Loan A [164]. - Other income, net increased by $11.1 million to $34.8 million, including a pre-tax gain of $29.2 million on the sale of assets of Mosaic Group [167]. - The unrealized gain on investment in MGM Resorts International decreased by $541.1 million to $704.8 million, reflecting changes in MGM's stock price [165]. - During the three months ended March 31, 2024, the Company recognized an unrealized gain of $163.8 million on its investment in MGM, compared to $704.8 million for the same period in 2023 [201].

Page 1 of 18 IAC REPORTS Q1 2024 Dotdash Meredith announced strategic partnership and licensing agreement with OpenAI Dotdash Meredith Digital revenue growth of 13% Total IAC Q1 operating loss improves $76 million to $59 million Total IAC Q1 Adjusted EBITDA improves $34 million to $43 million NEW YORK— May 7, 2024—IAC (NASDAQ: IAC) released its first quarter results today and separately posted a letter to shareholders from IAC CEO Joey Levin on the Investor Relations section of its website at ir.iac.com. | ...