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The Daily Beast's new leaders received a lot of criticism for cutting staff and allegedly dumbing down the site's content, but increasing quarterly revenue by 81% and turning a profit after years of losses certainly is impressive. https://t.co/jpVfPrakd3
IAC reports Q3 revenue at Dotdash Meredith up 5% YoY to $439.5M and a $22.1M operating profit; The Daily Beast is profitable, a first, and revenue rose 81% YoY (@xpangler / Variety) https://t.co/5uxxmWLuaP https://t.co/YeXT13mF5J
Daily Beast Turns First Quarterly Profit Amid Cutbacks, Q3 Revenue Rises 81% https://t.co/uaJTDkTonP via @variety
IAC is considering a spin-off of its home improvement site Angi, previously known as Angie's List, as part of a strategy to streamline operations. This potential move comes as IAC's media group, led by Barry Diller, looks to optimize its portfolio amid rising revenues from its Dotdash Meredith unit, which reported a 5% year-over-year increase in Q3 revenue, amounting to $439.5 million, along with a $22.1 million operating profit. In contrast, Angi's stock has seen a decline of 7% following the announcement, while IAC's shares rose approximately 1% in premarket trading.
