ticker

IAC holds 64.7 million shares of MGM Resorts International and EPS reflects decreases or increases in MGM’s share price as unrealized losses and gains. IAC’s stake in MGM was purchased for $1.3 billion in 2020 and 2022 and is worth $2.8 billion as of February 10, 2023.

IAC said fourth quarter revenue increased 8% to $1.25 billion and the company swung to a net loss of $1.4 million from a profit of $13.0 million and diluted EPS was ($0.02) from a profit of 14 cents a year ago.

Cadence said fourth quarter revenue increased 16.4% to $899.8 million from $773 million. Net income in the quarter increased to $240.4 million from $176.5 million and diluted earnings per share rose to 88 cents from 66 cents a year ago.

Avis Budget Group said revenue in the fourth quarter increased 8% to $2.77 billion and net income rose 11% to $424 million from $383 million or diluted earnings per share jumped to $10.10 from $6.63 a year ago.