IAC Inc

For the period ended Mar 31, 2024. Filed May 7, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 7, 2024

PPLI$42.08+2.6%Stored close · as of Nov 6, 2026

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Consolidated Statement of Operations

	Three Months Ended March 31,
	2024	2023
(In thousands, except per share data)
Revenue	$929,680	$1,084,271
Operating costs and expenses:
Cost of revenue (exclusive of depreciation shown separately below)	271,964	342,929
Selling and marketing expense	343,925	403,297
General and administrative expense	212,669	273,076
Product development expense	86,999	84,787
Depreciation	36,573	61,172
Amortization of intangibles	36,728	54,606
Total operating costs and expenses	988,858	1,219,867
Operating loss	(59,178)	(135,596)
Interest expense	(39,718)	(38,172)
Unrealized gain on investment in MGM Resorts International	163,751	704,840
Other income, net	34,805	23,749
Earnings before income taxes	99,660	554,821
Income tax provision	(54,688)	(139,502)
Net earnings	44,972	415,319
Net loss attributable to noncontrolling interests	59	2,456
Net earnings attributable to IAC shareholders	$45,031	$417,775
Per share information attributable to IAC common stock and Class B common stock shareholders:
Basic earnings per share	$0.52	$4.72
Diluted earnings per share	$0.51	$4.57
Stock-based compensation expense by function:
Cost of revenue	$493	$19
Selling and marketing expense	1,641	1,743
General and administrative expense	24,954	22,844
Product development expense	1,819	4,335
Total stock-based compensation expense	$28,907	$28,941

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