IAC Q2 revenue $1.11B (-18% YoY); net loss $89M improved from $869M loss a year ago

IAC Inc.

2023-Q2 EPS reported $3.64 revenue$2,195,860,000

Revenue $1,111.6M down 18% YoY; operating loss $55.5M improved 67% from -$166.1M.
Adjusted EBITDA $70.2M up 88% YoY; Dotdash Meredith EBITDA +38% to $54.1M; Angi EBITDA +89% to $18.3M.
Net loss attributable to IAC $89.0M ($1.07 diluted loss per share) vs $869.1M loss ($10.02 loss) in Q2 2022.
Unrealized loss on MGM investment narrowed to $32.4M from $825.3M; MGM stake worth $2.9B as of Aug 4, 2023.
Angi Inc. pro forma net revenue -16% to $375.6M; Services net revenue -18% to $30.4M.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IAC Inc. reported Q2 2023 results: revenue $1,111.6, net income $(89.0), EPS $(1.07).

Period: Q2 2023
Revenue: $1,111.6
Net income: $(89.0)
EPS: $(1.07)
Result: reported results

Exact text from the filing

CEO Joey Levin on the Investor Relations section of its website at ir.iac.com . IAC SUMMARY RESULTS ($ in millions except per share amounts) Q2 2023 Q2 2022 Growth Revenue $ 1,111.6 $ 1,362.6 -18 % Operating loss (55.5 ) (166.1 ) 67 % Unrealized loss on investment in MGM Resorts International (32.4 ) (825.3 ) 96 % Net loss (89.0 ) (869.1 ) 90 % Diluted loss

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20 earnings releases filed in the last 30 days. Browse all earnings releases →

IAC Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-088854

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