• by Ray Schultz , August 8, 2023

Dotdash Meredith posted a 15% decline in Q2 2023 revenue YoY to $414 million. But a $17.8 million operating loss reflected a 35% improvement over the prior year. 

Digital revenue fell by 10% YoY to $212 million. Print declined by 21% to $206.8 million, driven by circulation falloffs for some publications.  

“Stability in traffic helped, as did passing the toughest of last year’s advertising comparables,” says Joey Levin, CEO of parent IAC.

Levin continues, “While we can’t count on any aggregate recovery in the ad market, we do expect Dotdash Meredith to benefit from D/Cipher adoption, performance marketing strength, and more ad performance optimization on the former Meredith sites.” 

Looking ahead to Q3, the company expects digital revenue to be “slightly negative but improved on Q2 performance, and adjusted EBITDA growth to accelerate year-over-year, followed by solid growth in both revenue and adjusted EBITDA in Q4.” 

Meanwhile, IAC’s Angi Inc. saw revenue of $375.1 million (-27%) and search realized $177 million (-11%).  

IAC revenues totaled $1,111,600,000 (-18%).