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IAC's core profit increased by 24% in the second quarter, driven by a rise in advertising and licensing revenues from its unit, Dotdash Meredith. Dotdash Meredith recorded its second consecutive quarter of double-digit advertising growth, largely due to the success of its cookieless targeting tool, D/Cipher. Despite a 15% year-over-year decline in IAC's overall revenue to $949.5 million, Dotdash Meredith's revenue grew by 3% year-over-year to $425.2 million, with a 16% increase in advertising revenue.
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IAC reports Q2 revenue down 15% YoY to $949.5M and profit up 24% YoY to $87.3M; Dotdash Meredith reports revenue up 3% YoY to $425.2M and ad revenue up 16% YoY (Juby Babu / Reuters) https://t.co/migpFdzS0w https://t.co/a0j66cN7xJ
Dotdash Meredith, an IAC company, notched its second consecutive quarter of double-digit advertising growth, largely due to the continued performance of its cookieless targeting tool called D/Cipher. https://t.co/oUM9lxQGCb