IAC Inc. reported a revenue of $422.9 million for the first quarter of 2026, a decline of 12% from $481.7 million in the same period of 2025. The company experienced a significant operating loss of $40.1 million, compared to an operating income of $24.1 million in the prior year. The net loss attributable to IAC shareholders was $71.9 million, or $(0.94) per share, a notable improvement from a net loss of $216.8 million, or $(2.64) per share, in the previous year. The decrease in revenue was primarily driven by a 76% drop in revenue from the Search segment, which fell to $17.1 million due to the expiration of a key services agreement with Google and subsequent operational changes.
In terms of operational metrics, IAC's People Inc. segment saw a slight revenue decrease of 2% to $385.7 million, despite an 8% increase in digital revenue. The digital segment's growth was attributed to higher performance marketing and licensing revenues, which were partially offset by declines in print revenue. The company reported a total of 2.04 billion sessions across its digital platforms, an 18% decrease from the previous year, indicating challenges in user engagement likely influenced by market conditions and competition.
Strategically, IAC announced a corporate restructuring plan, which includes a name change to "People Incorporated" and a consolidation of corporate functions with People Inc. This plan is expected to incur approximately $63 million in costs, including $14 million in severance expenses. The restructuring aims to streamline operations and enhance focus on core business areas. Additionally, the company completed the sale of its subsidiary Care.com for $295.7 million, which is reflected in its financials as a discontinued operation.
Looking ahead, IAC's management expressed cautious optimism regarding future performance, emphasizing the need to adapt to evolving market conditions, particularly in digital advertising. The company is also focused on managing its debt, which stood at approximately $1.44 billion as of March 31, 2026. The ongoing restructuring efforts and strategic focus on digital growth are expected to play a crucial role in navigating the challenges ahead and improving financial performance in the coming quarters.
About IAC Inc.
IAC is a diversified internet company owning leading digital media, e-commerce, and service platforms. Its core segments include Dotdash Meredith, a major publisher of digital and print content; Angi, a home services marketplace connecting consumers with professionals; and Care.com, a platform for caregiving services. The company generates revenue through advertising, subscriptions, transaction fees, and licensing, serving millions of consumers and professionals across various categories and markets.
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