IAC reorg makes Vimeo and DotDash standalone segments, adds new acquisition Robokiller
IAC is changing the way its business is organized, the company reported during its Q3 2018 earnings on Wednesday. The company’s video platform Vimeo and DotDash ( previously About.com ) will become their own separate segments at IAC starting in Q4. That means they’ve reached the point their revenues can stand on their own. The company beat on third quarter revenue expectations in the quarter with a revenue increase to $1.1 billion from $828.4 million a year ago, ahead of FactSet analyst expectations of $1.07 billion. However, net income was $145.8 million, or $1.49 a share, down from $179.6 million, or $1.79 a share, a year earlier. The drop was attributed to a tax benefit that it received in the year-ago period. Vimeo’s revenue growth in the quarter increased 29 percent, and it grew its subscriber base by 10 percent to 932,000, IAC said. “The business has the scale and potential to now stand on its own, and we want to begin to put a spotlight on it,” said IAC CEO Joey Levin, in a ...