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. | ...

Agreement delivers 100 million ChatGPT users trusted content from 40+ iconic media brands including PEOPLE, Better Homes & Gardens, FOOD & WINE, Verywell, InStyle, and Investopedia Companies to collaborate on D/Cipher–Dotdash Meredith's transformative cookieless ad targeting solution—bringing AI-powered capabilities and insights to enhance performance for advertisers NEW YORK, May 7, 2024 /PRNewswire/ -- Dotdash Meredith (DDM), America's largest digital and print publisher, today announced a strategic par ...

IAC Inc. (IAC) is scheduled to release first-quarter 2024 results on May 07, after market close.The company has a lackluster earnings surprise history, having outperformed the Zacks Consensus Estimate in one of the preceding four quarters while matching in one and missing in the other two, the average beat being negative 77.8%. In the last reported quarter, it reported a loss of 73 cents per share, which missed the Zacks Consensus Estimate of a loss of 20 cents per share by 265%.Let’s see how things have sh ...

Wall Street analysts expect IAC (IAC) to post quarterly loss of $1.14 per share in its upcoming report, which indicates a year-over-year increase of 44.7%. Revenues are expected to be $937.68 million, down 13.5% from the year-ago quarter.Over the last 30 days, there has been an upward revision of 2% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Before a ...

Wall Street expects a year-over-year increase in earnings on lower revenues when IAC (IAC) reports results for the quarter ended March 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on May 7. On the other han ...

NEW YORK, April 16, 2024 /PRNewswire/ -- After the close of market trading on Tuesday, May 7, 2024, IAC (NASDAQ: IAC) will post its first quarter results and simultaneously IAC CEO Joey Levin will publish a letter to shareholders, which may include certain forward-looking information, at https://ir.iac.com/quarterly-results. On Wednesday, May 8, 2024, at 8:30 a.m. ET, IAC and Angi Inc. will host a conference call to answer questions regarding the companies' respective first quarter results. The live audioca ...

NEW YORK, April 15, 2024 /PRNewswire/ -- IAC (NASDAQ: IAC) announced a new strategic partnership today with Ben Sherwood and Joanna Coles to lead The Daily Beast. Effective immediately, Sherwood will serve as Publisher and CEO and Coles as Chief Creative and Content Officer. As strategic partners, both will share a substantial interest in the company. Specific terms of the partnership were not disclosed. Embracing The Daily Beast's founding vision to deliver riveting journalism with bite and flair, the comb ...

IAC (IAC) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this Y have returned -3.3% over the past month versus the Zacks S&P 500 composite's +0.8% change. The Zacks Diversified Operations industry, to which IAC belongs, has lost 12% over this period. Now the key question is: Where could the stock be headed in the near term?While media releases or rumors about a substa ...