IAC Q1 2024: Revenue -14% to $930M, operating loss improves; Dotdash Meredith digital rev +13%

IAC Inc.

2024-Q1 EPS reported $0.51 revenue$929,680,000

Total Q1 revenue $929.7M (-14% YoY); operating loss narrowed to $59.2M from $135.6M.
Dotdash Meredith revenue $390.5M (+1% YoY) with digital revenue up 13% to $209.3M; announced OpenAI partnership.
Angi Inc. revenue $305.4M (-14% YoY); operating income improved to $2.7M; Jeff Kip appointed CEO.
IAC Adjusted EBITDA $43.0M vs $9.1M YoY; holds $1.6B cash and $2.0B debt; MGM stake worth $2.7B.
Search revenue down 29% to $108.5M; Emerging & Other revenue down 34% to $126.5M including Mosaic sale.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

IAC Inc. reported Q1 2024 results: revenue $929.7, net income $45.0, EPS $0.51.

Period: Q1 2024
Revenue: $929.7
Net income: $45.0
EPS: $0.51
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) Q1 2024 Q1 2023 Growth Revenue $ 929.7 $ 1,084.3 -14 % Operating loss (59.2) (135.6) 56 % Unrealized gain on investment in MGM Resorts International 163.8 704.8 -77 % Net earnings 45.0 417.8 -89 % Diluted earnings per

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Source: SEC EDGAR

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