IAC Stock Recent News

IAC said on Monday longtime boss Joey Levin will step down as CEO after the spinoff of its majority stake in home services marketplace Angi as the media and internet company looks to focus on Dotdash Meredith, its largest business.

Current CEO Joey Levin will step down to become executive chairman at IAC spinoff Angi.

IAC on Monday announced that its board approved the spinoff of Angi, the home improvement marketplace it acquired in 2017. The holding company said it expects the spinoff to close in the second quarter of the year.

NEW YORK , Jan. 13, 2025 /PRNewswire/ -- Dotdash Meredith, the largest digital and print publisher in America, today named Charlotte Triggs as its first-ever GM and Editor-in-Chief of PEOPLE Group, effective immediately. A veteran of the PEOPLE brand, Triggs will have strategic oversight of all its platforms and content operations for digital and print.

IAC has signalled to the market that it's ready to make deals. Any kind of transaction (sale, acquisition, or IPO) could unlock shareholder value. If the private assets are indeed worth what we speculate, IAC is severely undervalued even when taking into account corporate overhead costs and could double when the market catches up. IAC's CEO and team are incentivized with RSUs to get the share price to at least $110 by 2030.

IAC Inc. (NASDAQ:IAC ) Q2 2024 Earnings Conference Call August 7, 2024 8:30 AM ET Company Participants Christopher Halpin - EVP, CFO & COO Joey Levin - CEO of IAC Inc. Jeff Kipp - CEO of Angi Inc. Conference Call Participants Ross Sandler - Barclays Cory Carpenter - JP Morgan Eric Sheridan - Goldman Sachs John Blackledge - TD Cowen Jason Helfstein - Oppenheimer Youssef Squali - Truist Nick Jones - Citizens JMP Brent Thill - Jefferies Yugal Arouninan - Citigroup Tom Champion - Piper Sandler Operator Good day and welcome to the IAC, and Angi's Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode.

Although the revenue and EPS for IAC (IAC) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

IAC (IAC) came out with quarterly earnings of $0.01 per share, beating the Zacks Consensus Estimate of a loss of $0.32 per share. This compares to loss of $0.76 per share a year ago.

IAC posted a 24% rise in its core profit in the second quarter, banking on advertising and licensing revenues of Dotdash Meredith, its biggest business.

IAC's second-quarter 2024 results are likely to bear the brunt of the weakness in Angi, search and print businesses.