IAC Q4 2018 Earnings Report — IAC InterActive Corp. Revenue & Financial Results | Market Cap Arena

IAC InterActive Corp.IAC

Q4 2018 Earnings

Reported March 1, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2018	Q3 2018	Q4 2017	QoQ Change	YoY Change
Revenue	$647M	$1.1B	$951M	-41.4%	-32.0%
Op. Income	$17M	$173M	$94M	-89.9%	-81.6%
Gross Margin	78.0%	78.5%	79.0%	-0.6pp	-1.0pp
Net Margin	13.8%	13.2%	3.5%	0.6pp	10.4pp
EPS (Diluted)	$1.05	$1.58	$0.37	-33.5%	183.8%
Free Cash Flow	$108M	$271M	$100M	-60.3%	7.9%

Revenue Flow

Item	Amount
REVENUE	$647M
Cost of Revenue	$143M
GROSS PROFIT	$504M
R&D Expenses	$46M
Selling & Marketing	$257M
General & Administrative	$154M
SG&A Expenses	$411M
Other Expenses	$66M
Operating Expenses	$395M
Cost & Expenses	$538M
OPERATING INCOME	$17M
Interest Income	$0
Interest Expense	$28M
Other Income/Expenses	$120M
INCOME BEFORE TAX	$109M
Income Tax Expense	$14M
Net Income from Continuing Ops	$95M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$89M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$89M
D&A	$30M
EBIT	$17M
EBITDA	$48M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$647M
Cost of Revenue	$143M
GROSS PROFIT	$504M
R&D Expenses	$46M
Selling & Marketing	$257M
General & Administrative	$154M
SG&A Expenses	$411M
Other Expenses	$66M
Operating Expenses	$395M
Cost & Expenses	$538M
OPERATING INCOME	$17M
Interest Income	$0
Interest Expense	$28M
Other Income/Expenses	$120M
INCOME BEFORE TAX	$109M
Income Tax Expense	$14M
Net Income from Continuing Ops	$95M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$89M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$89M
D&A	$30M
EBIT	$17M
EBITDA	$48M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$89M
Depreciation & Amortization	$30M
Stock-Based Compensation	$45M
Deferred Income Tax	$2M
Other Non-Cash Items	-$42M
Change in Working Capital	$2M
OPERATING CASH FLOW	$124M
Capital Expenditure	-$16M
Acquisitions (Net)	-$47M
Purchases of Investments	-$170M
Sales/Maturities of Investments	$470M
Other Investing Activities	$102M
NET CASH FROM INVESTING	$39M
Net Debt Issuance	-$3M
Common Stock Repurchased	-$43M
Common Dividends Paid	$0
Other Financing Activities	$233M
NET CASH FROM FINANCING	$229M
FREE CASH FLOW	$108M
Net Change in Cash	-$784M

Balance Sheet

Item	Amount
Cash & Equivalents	$885M
Short-Term Investments	$25M
Net Receivables	$180M
Inventory	$0
Other Current Assets	$131M
TOTAL CURRENT ASSETS	$1.3B
PP&E (Net)	$260M
Goodwill	$1.5B
Intangible Assets	$394M
Long-Term Investments	$226M
Tax Assets	$24M
Other Non-Current Assets	$86M
TOTAL NON-CURRENT ASSETS	$2.5B
TOTAL ASSETS	$3.7B
Account Payables	$64M
Short-Term Debt	$14M
Deferred Revenue	$360M
Other Current Liabilities	$286M
TOTAL CURRENT LIABILITIES	$527M
Long-Term Debt	$247M
Deferred Revenue NC	$2M
Deferred Tax Liabilities	$24M
Other Non-Current Liabilities	$207M
TOTAL NON-CURRENT LIABILITIES	$455M
TOTAL LIABILITIES	$982M
Common Stock	$2.3B
Additional Paid-In Capital	$0
Retained Earnings	$1.3B
Treasury Stock	$0
Accum. Other Comp. Income	-$13M
Other Equity	-$1.3B
TOTAL STOCKHOLDERS' EQUITY	$2.3B
Minority Interest	$466M
TOTAL EQUITY	$2.8B
TOTAL LIABILITIES & EQUITY	$3.7B
Total Debt	$261M
Net Debt	-$624M