Iac Inc (IAC)

IAC's shares fell 16.32% on disappointing Q2 earnings. Dotdash Meredith's revenue dropped 15% to $414 million, Angi's fell 16% to $375 million (pro forma), and search revenue declined 11% to $177 million. Adjusted EBITDA improved to $70.2 million from $37.4 million due to cost-cutting, but the loss per share was $1.07, worse than the expected $0.82 loss. Challenges in digital advertising and housing market are pushing IAC to emphasize profit margins and stock buybacks.

https://www.fool.com/investing/2023/08/09/why-iacinteractive-stock-was-falling-today/