IAC has released its Q4 financial results the day after subsidiary Match Group published its own.
The holding company reported total revenue of $1.21 billion in Q4 2019, a 10% increase on the Q4 total revenue from 2018. However, adjusted EBITDA saw a decline over the 12 month period, falling from $271 million to $268 million.
The multinational holding company also acknowledged its future plans to spin Match Group as its own standalone business. The separation is expected to be finalised by the of Q2.
In a letter to shareholders, CEO Joey Levin said: “Separate from IAC, when the transaction closes, our shareholders will have a direct interest in MTCH. High growth, high margins, and high cash flow make MTCH the complete package and we are proud to be putting a security that is virtually unrivaled into our shareholders’ hands.
“MTCH has a timeless mission, a simple business model, and global opportunities for market expansion. People from every walk of life increasingly embrace the concept of meeting online, and we intend to have products for all of them. You’re encouraged to get the full story from MTCH’s latest filings.”
As well as posting an increase on total revenue between Q4 2018 and Q4 2019, IAC also posted a 20% increase in operational income, but a decrease in net earnings of 48% and a 49% reduction in GAAP Diluted EPS.
IAC’s stock price has seen a small uptick following the release of the results, and its market cap currently sits at just under $20.5 billion.
See more of the individual figures here.