IAC Q2 revenue falls 7% to $586.9 million; operating income turns to $0.6 million
IAC reported second-quarter 2025 revenue of $586.9 million, down 7% from $634.4 million a year earlier, while operating income was $0.6 million compared with a $21.5 million loss. Net earnings of $211.5 million and diluted earnings of $2.57 per share were driven largely by a $307.4 million unrealized gain on its MGM Resorts stake, so shareholders should weigh the falling sales against a profit figure that depends heavily on MGM's share price.
Key points
- Revenue was $586.9 million, down 7%, with Search revenue down 39% to $61.7 million
- Operating income was $0.6 million versus a $21.5 million loss in Q2 2024; Adjusted EBITDA rose 15% to $51.4 million
- Diluted earnings per share were $2.57 versus a loss of $1.71, largely reflecting the $307.4 million unrealized MGM gain
- Full-year 2025 guidance: operating income of $82-$140 million and Adjusted EBITDA of $247-$285 million
The filing
Written by AI on Nov 8, 2026, 1:49 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 04, 2025.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.