Dotdash Meredith Q3 revenue falls 10.6% to $417M; net loss improves to $25M

IAC Inc.

Revenue $417.5M vs $467.1M YoY; nine-month revenue $1.22B down 16.3%.
Net loss $25.3M vs loss $87.0M Q3 2022; nine-month net loss $168.3M vs $235.6M.
Operating loss narrowed to $3.6M from $95.5M, helped by cost cuts and impairment charges.
Interest expense rose to $35.1M (+44% YoY); debt $1.5B as of Sept 30, 2023.
IAC contributed $405M and received $280M distributions from Dotdash Meredith during nine months.

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