2024-07-03 11:35:03 ET
Summary
- Angi Inc., a holding of IAC Inc., is undergoing heavy restructuring, resulting in falling revenues but significant profit growth.
- The company is cutting non-profitable businesses and eliminating large cost bases, particularly associated with trying to scale these businesses.
- Despite the positive changes, Angi's valuation is not exceptional compared to other platform businesses like Udemy. IAC is more interesting in terms of value.
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Angi: Hopefully U.S. Restructuring Matches Success Of International