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MarketScreener Homepage  >  Equities  >  Nasdaq  >  IAC/InterActiveCorp    IAC

IAC/INTERACTIVECORP

(IAC)
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IAC/InterActiveCorp : IAC looks to spin off its stake in Vimeo

11/05/2020 | 04:05pm EST

Nov 5 (Reuters) - IAC/InterActiveCorp said on Thursday it was considering spinning off its stake in Vimeo, its video platform that raised $150 million in funding at a $2.75 billion valuation.

"We're now evaluating a full spin off to enable Vimeo with the complete suite of tools available in the public markets," IAC Chief Executive Officer Joey Levin said.

"There's a long way to go before we're decided on that, and far too early to speculate on what the terms of that spin would look like."

In a bid to boost subscribers, Vimeo launched a free video messaging tool on its platform and collaborated with GoDaddy Inc to make video tools available along with the website builder’s suite in October.

Quarterly revenue from IAC's largest unit, ANGI Homeservices, increased 9% to $389.9 million, beating analysts' estimates of $383.1 million, according to Refinitiv IBES data.

IAC's net income attributable to shareholders rose to $184.9 million, or $2.04 per share, in the third quarter ended Sept. 30, from $16.5 million, or 19 cents per share, a year earlier.

The quarterly results included a $227.7 million after-tax unrealized gain related to IAC's investment in MGM Resorts International.

Total revenue rose 11.8% to $788.4 million, beating analysts' estimates of $766.7 million. (Reporting by Chavi Mehta and Ayanti Bera in Bengaluru; Editing by Shounak Dasgupta)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ANGI HOMESERVICES INC. -1.72% 11.98 Delayed Quote.-9.21%
IAC/INTERACTIVECORP 0.63% 197.66 Delayed Quote.4.39%
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Financials (USD)
Sales 2020 3 078 M - -
Net income 2020 -271 M - -
Net cash 2020 3 241 M - -
P/E ratio 2020 -59,1x
Yield 2020 -
Capitalization 16 868 M 16 868 M -
EV / Sales 2020 4,43x
EV / Sales 2021 3,91x
Nbr of Employees 6 400
Free-Float -
Chart IAC/INTERACTIVECORP
Duration : Period :
IAC/InterActiveCorp Technical Analysis Chart | IAC | US44891N1090 | MarketScreener
Technical analysis trends IAC/INTERACTIVECORP
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 21
Average target price 194,05 $
Last Close Price 197,66 $
Spread / Highest target 16,4%
Spread / Average Target -1,83%
Spread / Lowest Target -43,3%
EPS Revisions
Managers and Directors
NameTitle
Joseph M. Levin Chief Executive Officer & Director
Barry Charles Diller Chairman
Glenn H. Schiffman Chief Financial Officer & Executive Vice President
Victor A. Kaufman Vice Chairman
Chelsea Clinton Independent Director