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Mar 31, 2024
IAC Q1 2024 Earnings Report
IAC's financial performance improved with strategic partnerships and revenue growth in key segments.
Key Takeaways
IAC's Q1 2024 results showed improvement in operating loss and Adjusted EBITDA, driven by Dotdash Meredith's digital revenue growth and strategic partnership with OpenAI. Angi Inc. saw revenue decline but improved profitability, while Emerging & Other revenue decreased due to the sale of Roofing and Mosaic Group assets. Overall, IAC's net earnings decreased due to unrealized gains on investment in MGM Resorts International.
Dotdash Meredith announced a strategic partnership and licensing agreement with OpenAI, with digital revenue increasing by 13%.
Angi Inc. revenue declined by 14%, but operating income and Adjusted EBITDA increased.
Emerging & Other revenue decreased by 34% due to the sale of Roofing and Mosaic Group assets.
IAC holds 64.7 million shares of MGM Resorts International, worth $2.7 billion as of May 3, 2024.
Revenue by Segment
Forward Guidance
IAC and Angi Inc. will host a conference call on May 8, 2024, at 8:30 a.m. Eastern Time to discuss their first quarter results. The conference call will include forward-looking information that may be material to investors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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