IAC Q3 revenue down 15% to $1.11B; Adj EBITDA up 83% to $100M; net loss $390M on MGM hit

IAC Inc.

2023-Q3 EPS reported -$0.74 revenue$3,307,201,000

Revenue $1.11B, -15% YoY; operating loss improved 74% to $32.7M.
Adjusted EBITDA $100.4M, +83%; Dotdash Meredith EBITDA +119% to $68.3M.
Net loss $390.5M ($4.72/sh) vs $63.8M loss, driven by $463M unrealized MGM loss.
Angi revenue -25% (pro forma net -14%); completed sale of Total Home Roofing on Nov 1.
Cash & marketable securities $1.4B, debt $2.0B; IAC has 3.7M shares left for repurchase.

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 Q3 2023 results: revenue $ 1,111.3, net income Net loss (390.5 ), EPS Diluted loss per share (4.72 ).

Period: Q3 2023
Revenue: $ 1,111.3
Net income: Net loss (390.5 )
EPS: Diluted loss per share (4.72 )
Result: reported results

Exact text from the filing

IAC CEO Joey Levin on the Investor Relations section of its website at ir.iac.com . IAC SUMMARY RESULTS ($ in millions except per share amounts) Q3 2023 Q3 2022 Growth Revenue $ 1,111.3 $ 1,300.9 -15 % Operating loss (32.7 ) (124.7 ) 74 % Unrealized (loss) gain on investment in MGM Resorts International (463.4 ) 42.5 NM Net loss (390.5 ) (63.8 ) -512 % Diluted

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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 0001104659-23-115251

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