IAC (NASDAQ:IAC) shares are up 4.8% after Q3 results beat EPS and revenue estimates with a 33% Y/Y revenue growth. The report includes restructuring news that includes creating a Vimeo segment.
Revenue breakdown: Match, $443.9M; HomeAdvisor, $303.1M (consensus: $296.4M); Video, $64.2M (consensus: $60.6M), Applications, $154M (consensus: $143.1M); Publishing, $139.4M (consensus: $130.5M).
Reorganization: Starting in Q4, video platform Vimeo and DotDash (formerly About.com) will become their own segments. The mobile business will split from legacy desktop. The remaining businesses in Publishing and Video will combine into the catch-all Emerging & Other.
In Q3, Vimeo revenue increased 29% while subscribers grew 10% to 932K. DotDash revenue increased 35% to $30.1M. Mobile revenue was up 158% to over $35M or about 23% of total revenue. Mobile subscribers totaled over 2.5M.
Find the earnings press release and shareholder’s letter here.
Previously: Match Group -9.5% on downside Q4 guidance (Nov. 6)
Previously: Match Group guides soft Q4 Tinder subscriber adds (Nov. 7)
Previously: ANGI Homeservices beats by $0.01, beats on revenue (Nov. 7)
Previously: IAC/InterActive beats by $0.48, beats on revenue (Nov. 7)
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