People Incorporated Reports Q2 2026 Financial Results with Revenue Decline and Increased Net Earnings

People Incorporated, formerly known as IAC Inc., reported its financial results for the second quarter of 2026, revealing a revenue of $436.7 million, a decrease of 1% from $443.2 million in the same period last year. For the first half of 2026, total revenue was $842.5 million, down 2% from $854.6 million in the prior year. The company experienced a significant increase in net earnings, reporting $506.9 million for the quarter, compared to $211.5 million in Q2 2025, largely due to an unrealized gain of $721.7 million from its investment in MGM Resorts International.

The company’s operating loss for the second quarter was $14.3 million, compared to a loss of $7.5 million in the same quarter of 2025. This increase in loss was attributed to higher stock-based compensation expenses, which rose to $35 million from $18.3 million year-over-year, as well as increased general and administrative expenses. The company also reported a significant rise in general and administrative expenses, which increased by 18% to $216 million, primarily due to higher compensation costs and legal expenses related to ongoing litigation.

In terms of operational metrics, People Incorporated's digital segment saw a revenue increase of 6% to $289.9 million, driven by growth in licensing and performance marketing revenues. However, the print segment experienced a decline of 16%, with revenues falling to $132.6 million, reflecting ongoing challenges in the print media industry. The company reported a 23% decrease in total sessions across its digital platforms, indicating a shift in consumer engagement patterns, which management attributes to the increasing prominence of AI in search functionalities.

Strategically, People Incorporated is undergoing a corporate restructuring plan aimed at consolidating its functions and reducing costs, with an estimated total cost of $63 million. This plan includes a reduction in workforce and is expected to be completed by the first quarter of 2027. Additionally, the company has proposed to acquire all outstanding shares of MGM that it does not already own for $48.30 per share, a move that could significantly impact its financial landscape if successful.

Looking ahead, People Incorporated anticipates continued challenges in its print segment and is focused on enhancing its digital offerings to drive growth. The company remains committed to its restructuring efforts and is closely monitoring market conditions to adapt its strategies accordingly. The management expressed optimism about leveraging its digital capabilities to improve performance and navigate the evolving media landscape.