IAC Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 08, 2023 at 02:57 am IST
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IAC Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,111.34 million compared to USD 1,300.9 million a year ago. Net loss was USD 390.54 million compared to USD 63.82 million a year ago. Basic loss per share from continuing operations was USD 4.72 compared to USD 0.74 a year ago. Diluted loss per share from continuing operations was USD 4.72 compared to USD 0.74 a year ago.
For the nine months, sales was USD 3,307.2 million compared to USD 3,988.83 million a year ago. Net loss was USD 61.81 million compared to USD 1,168.75 million a year ago. Basic loss per share from continuing operations was USD 0.74 compared to USD 13.51 a year ago. Diluted loss per share from continuing operations was USD 0.74 compared to USD 13.51 a year ago.
IAC Inc. is engaged in building companies. The Company's segments include Dotdash Meredith, Angi Inc., Search, and Emerging & Other. Its Dotdash Meredith segment consists of its digital and print businesses. Through these digital businesses, it provides original and engaging digital content in a variety of formats, including articles, illustrations, videos, and images. Its print business publishes approximately 17 magazines, as well as more than 400 special interest publications. Its Angi Inc. segment includes three segments: Ads and Leads, Services, and International (Europe and Canada). Its Search segment consists of Ask Media Group, a collection of websites providing general search services and information, and a Desktop business, which includes direct-to-consumer downloadable desktop applications and business-to-business partnership operations. Its Emerging & Other segment includes Care.com, Mosaic Group, Vivian Health, The Daily Beast, IAC Films, and Bluecrew.