IAC Inc
For the period ended Jun 30, 2024. Filed Aug 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.
Jun 30, 2024 · Filed Aug 7, 2024
PPLI$42.08+2.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Operations
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| (In thousands, except per share data) | ||||
| Revenue | $949,527 | $1,111,589 | $1,879,207 | $2,195,860 |
| Operating costs and expenses: | ||||
| Cost of revenue (exclusive of depreciation shown separately below) | 267,503 | 353,078 | 539,467 | 696,007 |
| Selling and marketing expense | 335,708 | 413,954 | 679,633 | 817,251 |
| General and administrative expense | 209,998 | 218,166 | 422,667 | 491,242 |
| Product development expense | 78,159 | 86,398 | 165,158 | 171,185 |
| Depreciation | 33,448 | 41,283 | 70,021 | 102,455 |
| Amortization of intangibles | 36,710 | 54,183 | 73,438 | 108,789 |
| Total operating costs and expenses | 961,526 | 1,167,062 | 1,950,384 | 2,386,929 |
| Operating loss | (11,999) | (55,473) | (71,177) | (191,069) |
| Interest expense | (39,515) | (39,077) | (79,233) | (77,249) |
| Unrealized (loss) gain on investment in MGM Resorts International | (179,284) | (32,362) | (15,533) | 672,478 |
| Other income, net | 54,693 | 10,985 | 89,498 | 34,734 |
| (Loss) earnings before income taxes | (176,105) | (115,927) | (76,445) | 438,894 |
| Income tax benefit (provision) | 34,638 | 24,297 | (20,050) | (115,205) |
| Net (loss) earnings | (141,467) | (91,630) | (96,495) | 323,689 |
| Net (earnings) loss attributable to noncontrolling interests | (765) | 2,585 | (706) | 5,041 |
| Net (loss) earnings attributable to IAC shareholders | $(142,232) | $(89,045) | $(97,201) | $328,730 |
| Per share information attributable to IAC common stock and Class B common stock shareholders: | ||||
| Basic (loss) earnings per share | $(1.71) | $(1.07) | $(1.17) | $3.77 |
| Diluted (loss) earnings per share | $(1.71) | $(1.07) | $(1.17) | $3.64 |
| Stock-based compensation expense by function: | ||||
| Cost of revenue | $760 | $533 | $1,253 | $552 |
| Selling and marketing expense | 2,372 | 2,198 | 4,013 | 3,941 |
| General and administrative expense | 23,115 | 24,040 | 48,069 | 46,884 |
| Product development expense | 2,852 | 3,422 | 4,671 | 7,757 |
| Total stock-based compensation expense | $29,099 | $30,193 | $58,006 | $59,134 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.