<p>IAC/InteractiveCorp 最近的财报电话会议展现了复杂的前景，既有积极的进展，也面临显著的挑战。公司强调了强劲的数字收入增长和战略合作伙伴关系，这对未来扩展充满希望。然而，它也面临着一些障碍，例如谷歌搜索流量下降、企业收入压力和巨额法律费用。尽管面临这些挑战，IAC 强劲的现金状况和对核心资产如 MGM 和 People Inc. 的战略关注表明了其韧性和未来增长的潜力。</p>
<h2>数字收入增长</h2>
<p>People Inc. 在第三季度实现了 9% 的数字收入增长，标志着连续第八个季度的增长。这一表现处于指导范围的高端，表明其强大的数字存在和有效的策略以维持这一上升趋势。</p>
<h2>战略投资与合作伙伴关系</h2>
<p>IAC 战略性地收购了 Feedfeed，以增强平台外的受众参与。此外，公司与微软达成了人工智能内容市场的合作伙伴关系，标志着向货币化 AI 驱动内容和扩展数字足迹的强劲举措。</p>
<h2>强劲的现金状况和股票回购</h2>
<p>IAC 拥有超过 10 亿美元的现金余额，并在年初至今回购了价值 3 亿美元的股票，占流通股的 8%。这一强劲的现金状况使公司能够投资于增长机会并向股东回馈价值。</p>
<h2>MGM 投资与估值</h2>
<p>IAC 将其在 MGM 的持股比例提高至 24%，强调了对 MGM 资产被低估的看法以及其在拉斯维加斯市场的强劲表现。这一举措突显了 IAC 对有价值核心资产的战略关注。</p>
<h2>谷歌搜索流量下降</h2>
<p>People Inc. 的谷歌搜索流量在两年内显著下降，从 54% 降至 24%，影响了会话量，并导致广告收入下降 3%。这一下降对维持数字广告收入流构成挑战。</p>
<h2>Care 企业收入挑战</h2>
<p>Care 的企业部门由于公司缩减开支，正经历显著的收入下降，预计第四季度收入将下降 7% 至 9%。这一趋势反映了影响企业支出的更广泛经济压力。</p>
<h2>法律费用影响盈利能力</h2>
<p>IAC 因与遗留业务相关的法律费用支出达 2100 万美元，导致新兴及其他部门的 EBITDA 为负。这些费用对盈利能力造成拖累，突显了有效管理法律成本的必要性。</p>
<h2>前瞻性指导</h2>
<p>在财报电话会议中，IAC 提供了几个关键指标和未来表现的战略见解。公司计划剥离非核心资产，以专注于 People Inc. 和 MGM，并预计增加对 MGM 的持股比例。此外，与微软达成的人工智能驱动的出版商内容市场的战略协议表明了未来从 AI 内容交易中获得收入的潜力。</p>
<p>总之，IAC/InteractiveCorp 的财报电话会议反映了复杂的情绪，既有有希望的增长途径，也面临显著的挑战。公司的战略投资和合作伙伴关系，加上强劲的现金状况，为未来增长提供了坚实的基础。然而，谷歌搜索流量下降和企业收入压力仍然是关注的领域。总体而言，IAC 对核心资产和数字扩展策略的关注表明了其韧性和长期成功的潜力。</p>

<p>IAC/InteractiveCorp 最近的财报电话会议揭示了一个复杂的前景，强调了强劲的数字收入增长和战略合作伙伴关系，同时也面临着谷歌搜索流量下降和法律费用等挑战。公司报告了 People Inc. 9% 的数字收入增长，并进行了包括 Feedfeed 在内的战略收购。IAC 拥有超过 10 亿美元的现金和股票回购，具备增长潜力。然而，企业收入正在下降，法律成本影响了盈利能力。公司仍然专注于 MGM 等核心资产，显示出韧性和未来成功的潜力，尽管面临当前的挑战</p>

<p>The recent earnings call for IAC/InteractiveCorp presented a mixed outlook, showcasing both positive strides and notable challenges. The company highlighted strong digital revenue growth and strategic partnerships, which are promising for future expansion. However, it also faced hurdles such as declining Google Search traffic, pressures on enterprise revenue, and significant legal expenses. Despite these challenges, IAC’s robust cash position and strategic focus on core assets like MGM and People Inc. suggest resilience and potential for future growth.</p>
<div class="lb-trans"><p>IAC/InteractiveCorp 最近的财报电话会议展现了复杂的前景，既有积极的进展，也面临显著的挑战。公司强调了强劲的数字收入增长和战略合作伙伴关系，这对未来扩展充满希望。然而，它也面临着一些障碍，例如谷歌搜索流量下降、企业收入压力和巨额法律费用。尽管面临这些挑战，IAC 强劲的现金状况和对核心资产如 MGM 和 People Inc. 的战略关注表明了其韧性和未来增长的潜力。</p>
</div><h2>Digital Revenue Growth</h2>
<div class="lb-trans"><h2>数字收入增长</h2>
</div><p>People Inc. achieved a 9% digital revenue growth in Q3, marking the eighth consecutive quarter of such growth. This performance was at the high end of the guidance range, indicating a strong digital presence and effective strategies in place to sustain this upward trend.</p>
<div class="lb-trans"><p>People Inc. 在第三季度实现了 9% 的数字收入增长，标志着连续第八个季度的增长。这一表现处于指导范围的高端，表明其强大的数字存在和有效的策略以维持这一上升趋势。</p>
</div><h2>Strategic Investments and Partnerships</h2>
<div class="lb-trans"><h2>战略投资与合作伙伴关系</h2>
</div><p>IAC made a strategic acquisition of Feedfeed to enhance off-platform audience engagement. Additionally, the company secured a partnership with Microsoft for an AI content marketplace, signaling a strong move towards monetizing AI-driven content and expanding its digital footprint.</p>
<div class="lb-trans"><p>IAC 战略性地收购了 Feedfeed，以增强平台外的受众参与。此外，公司与微软达成了人工智能内容市场的合作伙伴关系，标志着向货币化 AI 驱动内容和扩展数字足迹的强劲举措。</p>
</div><h2>Strong Cash Position and Share Buybacks</h2>
<div class="lb-trans"><h2>强劲的现金状况和股票回购</h2>
</div><p>IAC boasts a cash balance exceeding $1 billion and has repurchased $300 million worth of shares year-to-date, representing 8% of shares outstanding. This robust cash position allows the company to invest in growth opportunities and return value to shareholders.</p>
<div class="lb-trans"><p>IAC 拥有超过 10 亿美元的现金余额，并在年初至今回购了价值 3 亿美元的股票，占流通股的 8%。这一强劲的现金状况使公司能够投资于增长机会并向股东回馈价值。</p>
</div><h2>MGM Investment and Valuation</h2>
<div class="lb-trans"><h2>MGM 投资与估值</h2>
</div><p>IAC increased its ownership of MGM to 24%, underscoring the perceived undervaluation of MGM’s assets and its strong performance in the Las Vegas market. This move highlights IAC’s strategic focus on valuable core assets.</p>
<div class="lb-trans"><p>IAC 将其在 MGM 的持股比例提高至 24%，强调了对 MGM 资产被低估的看法以及其在拉斯维加斯市场的强劲表现。这一举措突显了 IAC 对有价值核心资产的战略关注。</p>
</div><h2>Decline in Google Search Traffic</h2>
<div class="lb-trans"><h2>谷歌搜索流量下降</h2>
</div><p>Google Search traffic for People Inc. decreased significantly from 54% to 24% over two years, impacting session volumes and contributing to a 3% decline in advertising revenue. This decline poses a challenge to maintaining digital advertising revenue streams.</p>
<div class="lb-trans"><p>People Inc. 的谷歌搜索流量在两年内显著下降，从 54% 降至 24%，影响了会话量，并导致广告收入下降 3%。这一下降对维持数字广告收入流构成挑战。</p>
</div><h2>Enterprise Revenue Challenges at Care</h2>
<div class="lb-trans"><h2>Care 企业收入挑战</h2>
</div><p>The enterprise segment of Care is experiencing significant revenue declines due to corporate belt-tightening, with expectations of 7% to 9% revenue declines in the fourth quarter. This trend reflects broader economic pressures impacting enterprise spending.</p>
<div class="lb-trans"><p>Care 的企业部门由于公司缩减开支，正经历显著的收入下降，预计第四季度收入将下降 7% 至 9%。这一趋势反映了影响企业支出的更广泛经济压力。</p>
</div><h2>Legal Expenses Impacting Profitability</h2>
<div class="lb-trans"><h2>法律费用影响盈利能力</h2>
</div><p>IAC incurred $21 million in legal expenses related to a legacy business, contributing to negative EBITDA in the Emerging &amp; Other segment. These expenses are a drag on profitability and highlight the need for effective legal cost management.</p>
<div class="lb-trans"><p>IAC 因与遗留业务相关的法律费用支出达 2100 万美元，导致新兴及其他部门的 EBITDA 为负。这些费用对盈利能力造成拖累，突显了有效管理法律成本的必要性。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>During the earnings call, IAC provided several key metrics and strategic insights for future performance. The company plans to divest non-core assets to focus on People Inc. and MGM, with an expected increase in ownership of MGM. Additionally, the strategic agreement with Microsoft for an AI-driven publisher content marketplace indicates future revenue potential from AI content deals.</p>
<div class="lb-trans"><p>在财报电话会议中，IAC 提供了几个关键指标和未来表现的战略见解。公司计划剥离非核心资产，以专注于 People Inc. 和 MGM，并预计增加对 MGM 的持股比例。此外，与微软达成的人工智能驱动的出版商内容市场的战略协议表明了未来从 AI 内容交易中获得收入的潜力。</p>
</div><p>In conclusion, IAC/InteractiveCorp’s earnings call reflected a mixed sentiment with both promising growth avenues and notable challenges. The company’s strategic investments and partnerships, coupled with a strong cash position, provide a solid foundation for future growth. However, declining Google Search traffic and enterprise revenue pressures remain areas of concern. Overall, IAC’s focus on core assets and digital expansion strategies suggest resilience and potential for long-term success.</p>
<div class="lb-trans"><p>总之，IAC/InteractiveCorp 的财报电话会议反映了复杂的情绪，既有有希望的增长途径，也面临显著的挑战。公司的战略投资和合作伙伴关系，加上强劲的现金状况，为未来增长提供了坚实的基础。然而，谷歌搜索流量下降和企业收入压力仍然是关注的领域。总体而言，IAC 对核心资产和数字扩展策略的关注表明了其韧性和长期成功的潜力。</p>
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IAC/InteractiveCorp 的财报电话会议：情绪复杂与战略举措