secwatch.observer — SEC 8-K summary
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Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2024-11-12T23:59:59+00:00
Accession:  0001800227-24-000044
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000180022724000044/0001800227-24-000044-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000180022724000044/iaci-20241111.htm
  HTML page:      https://secwatch.observer/filing/0001800227-24-000044

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer