Earnings release
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Page 1 of 15 IAC IAC REPORTS Q1 2021 – Q1 REVENUE INCREASES 28 % TO $ 876 MILLION - NEW YORK - May 6 , 2021 — IAC ( NASDAQ : IAC ) released its first quarter results today and separately posted a letter to shareholders from IAC CEO Joey Levin on the Investor Relations section of its website at ir.iac.com . Revenue Operating loss Net earnings ( loss ) Diluted EPS Adjusted EBITDA IAC SUMMARY RESULTS ( $ in millions except per share amounts ) Q1 2021 Q1 2020 Growth $ 876.0 $ 684.1 28 % ( 11.8 ) ( 312.3 ) 96 % 329.1 ( 328.2 ) NM 3.46 ( 3.86 ) NM 48.9 ( 8.2 ) NM See reconciliations of GAAP to non - GAAP measures beginning on page 11 . Q1 2021 HIGHLIGHTS • • • IAC shareholders are expected to meet on May 14 , 2021 to vote on the proposal to effect the Spin - off of Vimeo . If approved , we expect post - spin Vimeo to begin trading on Nasdaq ( ticker symbol “ VMEO ” ) on May 25 , 2021 , after trading on a “ when - issued ” basis on May 18th through May 24th . Angi Inc. revenue increased 13 % year - over - year to $ 387 million , the highest quarterly growth since Q1 2020 . ○ Marketplace Transacting Service Professionals increased 11 % year - over - year to a record high of 212,000 and has now grown sequentially for the fifth consecutive quarter . Marketplace Monetized Transactions increased 17 % year - over - year to 4.2 million . ○ Angi Services ( pre - priced offerings ) revenue was $ 55 million for Q1 2021 , increasing 66 % year- over - year . Vimeo revenue increased 57 % year - over - year to $ 89 million ( accelerating from 54 % in Q4 2020 ) driven by 25 % subscriber growth ( to nearly 1.6 million ) and 27 % ARPU growth ( to a record high of $ 233 ) . ○ Operating loss was $ 0.2 million and Adjusted EBITDA was positive at $ 2 million . Dotdash revenue increased 48 % year - over - year to $ 65 million , accelerating from 33 % in Q4 2020 . Operating income increased to $ 18 million and Adjusted EBITDA increased to $ 20 million . Search operating income and Adjusted EBITDA were $ 18 million . Net earnings for Q1 2021 includes a $ 292 million after - tax unrealized gain related to our investment in MGM Resorts International .