Digital Revenue Growth
People Inc. achieved 9% digital revenue growth in Q3, marking the eighth consecutive quarter of digital revenue growth. This growth was at the high end of the guidance range.
Strategic Investments and Partnerships
IAC made a strategic acquisition of Feedfeed to enhance off-platform audience engagement and secured a partnership with Microsoft for an AI content marketplace, indicating a strong move towards monetizing AI-driven content.
Strong Cash Position and Share Buybacks
IAC's cash balance is over $1 billion, and the company has repurchased $300 million worth of shares year-to-date, representing 8% of shares outstanding.
MGM Investment and Valuation
IAC increased its ownership of MGM to 24%, highlighting the undervaluation of MGM's assets and strong performance in the Las Vegas market.