
IAC reported strong sales growth, particularly in its Dotdash Meredith unit, leading to a more than 2% increase in its stock price after hours. Barry Diller, IAC's chairman, participated in the company's conference call with analysts for the first time in over a decade, contributing to a 4% rise in IAC's stock following the earnings announcement. Meanwhile, MGM Resorts International also posted positive earnings, with a 9% increase in its stock price after hours. MGM's consolidated net revenue reached a record $17.24 billion for the 2024 financial year, bolstered by growth in its China-facing operations. This performance is favorable for IAC, which holds a stake of over 20% in MGM, resulting in a 7% increase in IAC's stock as well.
$MGM up 15% on earnings. Good news for IAC, which owns a more than 20% stake. $IAC up 7%. My story on IAC earnings from yesterday for @barronsonline ICYMI. https://t.co/6NrRthHe6D
MGM Resorts International posted a record $17.24 billion (£13.80 billion/€16.53 billion) in consolidated net revenue during its 2024 financial year, driven once again by growth within its China-facing business https://t.co/JTtich4GWd https://t.co/0Imd1SF5FZ
MGM Climbs as Earnings Get Lift From China and Strong Growth Expectations Buoy the Stock https://t.co/vpjNNfr98M