10-Q · November 3, 2025
IAC reported Q3 revenue of $589,793,000, down from $642,000,000 in Q3 2024, and an operating loss of $(20,398,000) versus operating income of $8,146,000 a year ago. Reported diluted loss per share improved to $(0.27)…
Earnings analysis · 10-Q
IAC earnings analysis
Filed May 4, 2026 · Our reading of the company's report
The latest report
IAC's Q1 2026 results reflect a notable decline in revenues, primarily due to a significant drop in their Search segment, while Digital revenue from People Inc. showed modest growth. Operating losses have widened…
Read full summary
IAC's Q1 2026 results reflect a notable decline in revenues, primarily due to a significant drop in their Search segment, while Digital revenue from People Inc. showed modest growth. Operating losses have widened significantly, driven by increased administrative expenses and decreased profitability in Print segments. Despite a surprise in EPS, management anticipates ongoing challenges with traffic and advertising revenues caused by AI technologies in search.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.05
- Segment
- Digital Revenue
- Segment
- Print Revenue
- Segment
- Search Revenue
- Segment
- Emerging & Other Revenue
What stood out
-
Modest Growth in Digital Revenue
Digital revenue rose by 8% to $253.2 million from $234.5 million in Q1 2025.
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Significant Decline in Search Revenue
Search revenue plummeted 76% to $17.1 million, down from $70.3 million in the prior year.
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Increased Operating Loss
Operating loss for the quarter reached $40.1 million compared to a profit of $24.1 million in Q1 2025.
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Cash and Cash Equivalents Increased
Total cash and cash equivalents rose to $1.1 billion from $941 million at year-end 2025.
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Reduction in Cost of Revenue
Cost of revenue decreased 15% to $159.8 million, helping to offset some losses.
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Higher Adjusted EBITDA in Digital
Digital segment Adjusted EBITDA increased 20% to $49.9 million, improving profitability amid overall declines.
What to watch
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Dependence on Search Traffic
Reduction in traffic from Google algorithm changes contributed to Search's 76% revenue decline.
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Increased Operating Costs
General and administrative expenses surged 139% to $104.1 million, impacting overall profitability.
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Pressure from AI in Advertising
AI advancements have adversely affected advertising revenues, leading to lower ad impressions and revenue.
Management's outlook
Management highlights ongoing challenges with advertising revenue due to Google AI features, expecting continued pressure through the year.
Earlier filings 4
10-Q · August 4, 2025
IAC reported Q2 revenue of $586,928,000, down from $634,393,000 a year earlier, while GAAP diluted EPS swung to $2.57 from $(1.74) in Q2 2024 driven primarily by a $307,437,000 unrealized pre-tax gain on its MGM…
10-Q · November 7, 2023
IAC reported revenue of $1,111,341,000 for the three months ended September 30, 2023, down from $1,300,901,000 a year earlier, while GAAP net loss widened materially to $(392,022,000) driven by a large unrealized loss…
10-Q · May 9, 2023
IAC reported Q1 revenue of $1,084,271,000 and diluted EPS of $4.57, driven largely by a $704,840,000 unrealized gain on its MGM investment. Revenue declined versus the prior-year quarter, operating loss widened to…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.