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IAC REPORTS Q4 2017
NEW YORK- February 7, 2018-IAC (NASDAQ: IAC) released its fourth quarter 2017 results today and
separately posted a letter to shareholders from IAC's CEO Joey Levin on the Investor Relations section of its
website at
www.iac.com/Investors
.
Q4 2017 HIGHLIGHTS
·
Operating income and Adjusted EBITDA reflect transaction-related items in connection with the Angie's List
transaction. Excluding these items, IAC operating income was $141.5 million (up 25% year-over-year) and
Adjusted EBITDA was $213.3 million (up 30% year-over-year).
·
ANGI Homeservices
revenue increased 80% to $223.2 million. Excluding the transaction-related items,
operating income was $13.3 million and Adjusted EBITDA was $38.3 million, which represents a 17%
Adjusted EBITDA margin.
·
Match Group
revenue growth accelerated to 28% driven by 24% growth in average subscribers to over 7.0
million. Tinder average subscribers exceeded 3.1 million in Q4 2017, increasing 544,000 sequentially.
Operating income increased 13% to $127.7 million and Adjusted EBITDA increased 20% to $153.2 million.
·
Vimeo
subscribers increased 14% year-over-year to 873,000 and gross bookings (excluding the Livestream
acquisition completed on October 18, 2017) increased 25% year-over-year.
·
Applications
delivered operating income of $28.9 million and Adjusted EBITDA of $30.2 million.
·
Publishing
revenue increased 44% to $116.9 million driven in part by Premium Brands revenue growth
accelerating to 29%. Operating income and Adjusted EBITDA were $18.6 million and $20.5 million,
respectively.
Q4 2017 Q4 2016 Growth
FY 2017 FY 2016 Growth
Revenue
950.6
$
811.2
$
17%
3,307.2
$
3,139.9
$
5%
Operating income (loss)
94.4
112.8
-16%
188.5
(32.6)
NM
Net earnings (loss)
32.8
102.1
-68%
304.9
(41.3)
NM
GAAP Diluted EPS
0.37
1.18
-68%
3.18
(0.52)
NM
Adjusted EBITDA
191.2
164.3
16%
575.3
501.2
15%
Adjusted Net Income
120.8
114.4
6%
252.9
245.2
3%
Adjusted EPS
1.40
1.38
1%
2.99
2.95
1%

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