IAC Q3 revenue down 16%; considers Angi spin-off, adj EBITDA up 7%

IAC Inc.

2024-Q3 EPS reported -$4.10 revenue$2,817,926,000

Q3 revenue $938.7M (-16% YoY); net loss $243.7M improved from $390.5M loss in Q3 2023.
Adjusted EBITDA $107.4M (+7% YoY); operating income $16.3M vs loss of $32.7M.
Dotdash Meredith digital revenue +16% to $246.4M; Angi operating income +$16M to $7.8M.
IAC considering spin-off of Angi Inc. stake to shareholders; no timeline given.
Search revenue fell 47% to $88.3M on Ask Media Group and Desktop declines.

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