Published on 13 Feb 2024 on GuruFocus.com via Yahoo Finance

IAC Inc (IAC) Q4 Earnings: Operating Loss Narrows, Adjusted EBITDA Climbs

Revenue: Decreased by 15% year-over-year to $1,058.0 million in Q4 2023.Operating Loss: Improved by 51%, narrowing to $37.0 million in Q4 2023.Adjusted EBITDA: Increased by 57% to $156.8 million in Q4 2023.Net Earnings: Reported at $327.8 million in Q4 2023, compared to a loss of $1.4 million in Q4 2022.Diluted Earnings Per Share: Stood at $3.70 in Q4 2023, a significant increase from a loss of $0.02 per share in Q4 2022.Free Cash Flow: Improved to $48.2 million for the twelve months ended December 31, 2023.Stock Repurchases: Angi Inc. repurchased 6.1 million common shares for an aggregate of $14.0 million.

Warning! GuruFocus has detected 3 Warning Signs with IAC.

On February 13, 2024, IAC Inc (NASDAQ:IAC) released its fourth quarter results, showcasing a mix of challenges and financial achievements. The company, known for its diverse internet media segments including Angi (47% of total revenue), Dotdash (10%), search (24%), and emerging and other (19%), has reported a 15% decrease in revenue year-over-year, amounting to $1,058.0 million. Despite this decline, IAC managed to significantly narrow its operating loss by 51% to $37.0 million and increase its Adjusted EBITDA by 57% to $156.8 million, reflecting a strong improvement in operational efficiency. The company also reported a substantial net earnings of $327.8 million, a stark contrast to the net loss of $1.4 million in the same quarter of the previous year. This performance is particularly important for IAC as it demonstrates the company's ability to optimize its operations and maintain profitability in a challenging economic environment. The full details of IAC's financial performance can be found in its 8-K filing.