IAC Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 13, 2024 at 04:20 pm EST
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IAC Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 1,058.03 million compared to USD 1,246.45 million a year ago. Net income was USD 327.75 million compared to net loss of USD 1.42 million a year ago. Basic earnings per share from continuing operations was USD 3.82 compared to basic loss per share from continuing operations of USD 0.05 a year ago. Diluted earnings per share from continuing operations was USD 3.7 compared to diluted loss per share from continuing operations of USD 0.05 a year ago. Basic earnings per share was USD 3.82 compared to basic loss per share of USD 0.02 a year ago. Diluted earnings per share was USD 3.7 compared to diluted loss per share of USD 0.02 a year ago.
For the full year, sales was USD 4,365.24 million compared to USD 5,235.28 million a year ago. Net income was USD 265.94 million compared to net loss of USD 1,170.17 million a year ago. Basic earnings per share from continuing operations was USD 3.07 compared to basic loss per share from continuing operations of USD 13.58 a year ago. Diluted earnings per share from continuing operations was USD 2.97 compared to diluted loss per share from continuing operations of USD 13.58 a year ago. Basic earnings per share was USD 3.07 compared to basic loss per share of USD 13.55 a year ago. Diluted earnings per share was USD 2.97 compared to diluted loss per share of USD 13.55 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.