IAC Reports Q3-2022 Results

Q3 2022 HIGHLIGHTS

  • Dotdash Meredith Digital revenue was $221 million and Print revenue was $251 million. Pro Forma revenue decreased 19% due to 13% Digital declines and 24% Print declines. o Operating loss of $95 million and Adjusted EBITDA of $31 million in Q3 2022 reflect restructuring charges and transaction-related items associated with the acquisition of Meredith ($25 million impacting operating loss and $18 million impacting Adjusted EBITDA)
  • Angi Inc. revenue increased 8% year-over-year to $498 million and operating loss improved to $11 million (compared to a loss of $15 million in Q3 2021) and Adjusted EBITDA increased 85% to $23 million. o Angi Ads and Leads revenue increased 7% year-over-year, the second consecutive quarter of growth o Angi Services revenue was $132 million, increasing 12% year-over-year
  • Emerging & Other revenue increased 7% year-over-year to $181 million reflecting: o 13% growth from Care.com o 77% growth from Vivian Health
  • IAC repurchased approximately 367,000 shares at an average price of $71.56 in Q3 2022.
    details at: https://ir.iac.com/static-files/3fa11177-c2a1-4637-a049-b5d7b73f7726
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