IAC/InterActiveCorp (NASDAQ:IAC) Q3 2016 Earnings Conference Call - Preliminary Transcript

Nov 03, 2016 • 08:30 am ET

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IAC/InterActiveCorp (NASDAQ:IAC) Q3 2016 Earnings Conference Call - Preliminary Transcript

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Presentation
Operator
Operator

Good day and welcome to the IAC Reports Q3 2016 Results Conference Call. At this time I would like to turn the conference over to Glenn Schiffman, Chief Financial Officer. Please go ahead, sir.

Executive
Glenn Schiffman

Thank you, operator. Good morning, everyone. Glenn Schiffman here, and welcome to our third quarter earnings call. Joining me today is Joey Levin, our CEO. Match Group held their third quarter earnings call yesterday morning the focus of this call will be IAC ex-Match. Similar to last quarter, supplemental to our quarterly earnings release, we've also published our quarterly shareholder letter. We will not be reading our shareholder letter on this call. It is currently available on the Investor Relations section of our website. I will shortly turn the call over to Joey to make a few brief introductory remarks and then we will open it up to Q&A. Before we do that I'd like to remind you that during this call we may discuss our outlook and future performance. These forward-looking statements typically may be preceded by words such as we expect, we believe, we anticipate, or similar statements. These forward-looking views are subject to risks and uncertainties and our actual results could differ materially from the views expressed today. Some of these risks have been set forth in our third quarter press release and our periodic reports filed with the SEC. We'll also discuss certain non-GAAP measures, which as a reminder, include adjusted EBITDA which we'll refer to today as EBITDA for simplicity during the call. I'll also refer you to our press release and again to the Investor Relations section of our website for all comparable GAAP measures and full reconciliations for all material non-GAAP measures. Now let's jump right into it. Joey?

Executive
Unidentified Speaker

Thanks, Glenn. Forgive me, I've lost my voice a little bit last night cheering for the Cubs, so I may be talking a little bit less than usual. Also I'm on very little sleep, given how late the game went. But, Match delivered a great quarter this quarter. The rest of IAC delivered a great quarter. I feel really happy with the performance across those businesses, and our outlook is bright right now. Profit growth across the businesses, profit growth looking forward, plenty of investment opportunities and we have the ability to fund those, one in particular we covered in the letter is Vimeo. I think it's really amazing what we have there, and we're going after a big opportunity there. So I look forward to your questions.