IAC Q4 revenue -6% to $989M; plans Angi spin-off; CEO Levin to depart

IAC Inc.

2024-FY EPS reported -$6.49 revenue$3,807,233,000

Net loss $199M (diluted loss $2.39) vs prior-year net income $328M, hit by $287M unrealized loss on MGM investment.
Operating income $50.6M turned from -$37M loss YoY; Adjusted EBITDA $142M (-9% YoY).
Board approved spin-off of Angi Inc. to IAC shareholders, expected H1 2025; CEO Joey Levin to step down and become Angi Executive Chairman post-spin.
Dotdash Meredith digital revenue +10% to $311M, Q4 operating income $87M; Search revenue -33% to $89M.
FY2025 outlook: total Adjusted EBITDA $345-425M; Google agreement extended to March 2026.

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