IAC/InteractiveCorp. ( (IAC) ) has released its Q4 earnings. Here is a breakdown of the information IAC/InteractiveCorp. presented to its investors.
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IAC/InteractiveCorp is a diversified media and internet company that builds and manages a variety of online brands and services, primarily in the digital media, entertainment, and home services sectors. The company’s unique approach combines financial discipline with opportunistic investments, fostering the development of both early-stage and well-established businesses.
In its latest earnings report, IAC revealed a plan to spin off its full stake in Angi Inc., a move that is anticipated to complete in the first half of 2025. Despite a year-over-year revenue decline of 6% in the fourth quarter, the company reported a total operating income of $51 million, marking a significant turnaround from the previous year’s loss.
Key financial highlights from the report include Dotdash Meredith’s 10% growth in digital revenue, contributing to a total digital revenue surpassing $1 billion for the year. While Angi Inc. saw a decrease in both operating income and adjusted EBITDA due to the recovery of legal fees in the prior year, Care.com reported a 3% revenue increase driven by strong enterprise growth. IAC also extended its services agreement with Google until 2026, ensuring continued revenue from its Search segment.
Looking ahead, IAC management remains optimistic about the company’s financial flexibility, bolstered by Dotdash Meredith’s lowered borrowing costs and a strong cash flow position. The planned Angi Inc. spin-off and leadership changes are expected to streamline operations and potentially unlock further shareholder value.
Overall, IAC’s strategic initiatives and financial maneuvers suggest a proactive approach to navigating the evolving digital landscape, with a focus on strengthening its core businesses and exploring new opportunities for growth.
