IAC is considering a spinoff of Angi, its home improvement marketplace, which connects consumers with local service providers. The company, which owns 85% of Angi, noted that the spinoff could enhance shareholder value, although no specific timeline has been set. Angi's revenue fell 16% year over year to $296.7 million, attributed to reduced marketing spend, but it remains profitable with earnings of 7 cents per share.
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