Match (MTCH) 8-K IAC Announces New Segments and New Ticker Symbol

Exhibit 99.2

The tables below reflect the realignment of the Company's reportable segments described in Item 7.01 of this Form 8-K.

	2015									2014															2013
	Q1			Q2			Q3			Q1			Q2			Q3			Q4			YTD			YTD
	(Unaudited; in thousands)
Revenue:
Match Group	$	235,069		$	248,817		$	268,971		$	209,785		$	211,906		$	227,581		$	238,996		$	888,268		$	803,089
HomeAdvisor	75,844			94,150			99,435			61,033			74,693			75,405			72,410			283,541			239,471
Publishing	179,025			154,447			178,701			192,957			193,583			198,294			206,715			791,549			803,141
Applications	197,467			190,801			193,278			198,395			194,559			189,621			194,132			776,707			834,636
Video	46,472			40,720			60,125			36,222			37,609			50,412			58,211			182,454			161,457
Other	38,853			42,318			38,173			41,959			44,228			41,163			60,484			187,834			182,615
Inter-segment elimination	(218		)	(121		)	(122		)	(104		)	(263		)	(245		)	(194		)	(806		)	(1,422		)
Total	$	772,512		$	771,132		$	838,561		$	740,247		$	756,315		$	782,231		$	830,754		$	3,109,547		$	3,022,987
Operating income (loss):
Match Group	$	27,040		$	40,522		$	58,356		$	40,696		$	57,465		$	62,868		$	67,538		$	228,567		$	221,333
HomeAdvisor	(3,997		)	1,589			6,095			81			1,185			(41		)	(164		)	1,061			284
Publishing	19,376			10,160			14,149			25,531			26,100			26,702			32,190			110,523			119,484
Applications	38,906			52,631			46,539			39,640			45,313			48,789			45,218			178,960			214,916
Video	(20,469		)	(10,457		)	(5,655		)	(12,925		)	(9,919		)	(8,784		)	(11,718		)	(43,346		)	(24,144		)
Other	(541		)	(399		)	195			632			2,016			(96		)	5,556			8,108			(344		)
Corporate	(25,196		)	(31,277		)	(32,549		)	(21,943		)	(26,470		)	(28,485		)	(28,248		)	(105,146		)	(105,326		)
Total	$	35,119		$	62,769		$	87,130		$	71,712		$	95,690		$	100,953		$	110,372		$	378,727		$	426,203
Stock-based compensation expense:
Match Group	$	6,299		$	11,626		$	13,057		$	4,997		$	5,809		$	5,804		$	4,241		$	20,851		$	12,228
HomeAdvisor	420			420			410			—			—			138			420			558			—
Publishing	—			—			—			—			—			—			—			—			1
Applications	—			—			—			—			—			—			—			—			1
Video	147			147			50			164			161			161			161			647			633
Other	—			—			—			—			—			—			—			—			(29		)
Corporate	12,045			13,756			13,492			4,452			10,582			11,229			11,315			37,578			40,171
Total	$	18,911		$	25,949		$	27,009		$	9,613		$	16,552		$	17,332		$	16,137		$	59,634		$	53,005

	2015						2014										2013
	Q1		Q2		Q3		Q1		Q2		Q3		Q4		YTD		YTD
	(Unaudited; in thousands)
Depreciation:
Match Group	$	7,045	$	6,622	$	6,137	$	5,778	$	5,570	$	5,774	$	8,425	$	25,547	$	20,202
HomeAdvisor	1,551		1,589		1,627		1,401		1,545		1,591		1,983		6,520		5,174
Publishing	2,507		2,423		2,363		3,130		3,823		2,417		2,486		11,856		14,822
Applications	1,042		1,188		1,302		1,292		1,213		1,093		787		4,385		4,346
Video	198		226		289		277		215		218		189		899		1,133
Other	549		575		700		417		425		485		497		1,824		3,714
Corporate	2,676		2,877		3,207		2,523		2,466		2,555		2,581		10,125		9,518
Total	$	15,568	$	15,500	$	15,625	$	14,818	$	15,257	$	14,133	$	16,948	$	61,156	$	58,909

Amortization of intangibles:
Match Group	$	3,877		$	5,901		$	4,352		$	1,837		$	1,684		$	3,320		$	4,554		$	11,395		$	17,125
HomeAdvisor	1,190			1,102			772			2,465			2,468			3,197			1,432			9,562			9,915
Publishing	4,770			4,754			4,563			6,698			6,977			7,830			7,076			28,581			27,643
Applications	1,581			1,573			1,573			—			787			400			1,334			2,521			—
Video	423			379			377			256			698			635			510			2,099			981
Other	714			702			701			723			792			1,069			1,184			3,768			4,179
Corporate	—			—			—			—			—			—			—			—			—
Total	$	12,555		$	14,411		$	12,338		$	11,979		$	13,406		$	16,451		$	16,090		$	57,926		$	59,843
Acquisition-related contingent consideration fair value adjustments:
Match Group	$	(11,011	)	$	(1,223	)	$	755		$	(27	)	$	727		$	(14,281	)	$	669		$	(12,912	)	$	343
HomeAdvisor	—			—			—			—			—			—			—			—			—
Publishing	—			—			—			—			—			—			—			—			—
Applications	4,020			(6,297		)	(1,513		)	—			—			—			326			326			—
Video	(5		)	(2,430		)	(202		)	—			(200		)	—			(15		)	(215		)	—
Other	—			—			—			—			—			—			(566		)	(566		)	—
Corporate	—			—			—			—			—			—			—			—			—
Total	$	(6,996	)	$	(9,950	)	$	(960	)	$	(27	)	$	527		$	(14,281	)	$	414		$	(13,367	)	$	343
Adjusted EBITDA:
Match Group	$	33,250		$	63,448		$	82,657		$	53,281		$	71,255		$	63,485		$	85,427		$	273,448		$	271,231
HomeAdvisor	(836		)	4,700			8,904			3,947			5,198			4,885			3,671			17,701			15,373
Publishing	26,653			17,337			21,075			35,359			36,900			36,949			41,752			150,960			161,950
Applications	45,549			49,095			47,901			40,932			47,313			50,282			47,665			186,192			219,263
Video	(19,706		)	(12,135		)	(5,141		)	(12,228		)	(9,045		)	(7,770		)	(10,873		)	(39,916		)	(21,397		)
Other	722			878			1,596			1,772			3,233			1,458			6,671			13,134			7,520
Corporate	(10,475		)	(14,644		)	(15,850		)	(14,968		)	(13,422		)	(14,701		)	(14,352		)	(57,443		)	(55,637		)
Total	$	75,157		$	108,679		$	141,142		$	108,095		$	141,432		$	134,588		$	159,961		$	544,076		$	598,303

Reconciliation of Adjusted EBITDA to operating income to net earnings (loss) attributable to IAC shareholders:

	2015									2014															2013
	Q1			Q2			Q3			Q1			Q2			Q3			Q4			YTD			YTD
	(Unaudited; in thousands)
Adjusted EBITDA	$	75,157		$	108,679		$	141,142		$	108,095		$	141,432		$	134,588		$	159,961		$	544,076		$	598,303
Stock-based compensation expense	(18,911		)	(25,949		)	(27,009		)	(9,613		)	(16,552		)	(17,332		)	(16,137		)	(59,634		)	(53,005		)
Depreciation	(15,568		)	(15,500		)	(15,625		)	(14,818		)	(15,257		)	(14,133		)	(16,948		)	(61,156		)	(58,909		)
Amortization of intangibles	(12,555		)	(14,411		)	(12,338		)	(11,979		)	(13,406		)	(16,451		)	(16,090		)	(57,926		)	(59,843		)
Acquisition-related contingent consideration fair value adjustments	6,996			9,950			960			27			(527		)	14,281			(414		)	13,367			(343		)
Operating income	35,119			62,769			87,130			71,712			95,690			100,953			110,372			378,727			426,203
Equity in (losses) income of unconsolidated affiliates	(283		)	(193		)	398			(1,935		)	(6,850		)	(612		)	(300		)	(9,697		)	(6,615		)
Interest expense	(14,064		)	(15,214		)	(15,992		)	(14,064		)	(14,046		)	(14,009		)	(14,195		)	(56,314		)	(33,596		)
Other income (expense), net	7,271			(1,445		)	34,000			(23		)	(62,900		)	4,113			16,023			(42,787		)	30,309
Earnings from continuing operations before income taxes	28,043			45,917			105,536			55,690			11,894			90,445			111,900			269,929			416,301
Income tax (provision) benefit	(6,180		)	11,968			(40,510		)	(21,385		)	(29,889		)	59,816			(43,914		)	(35,372		)	(134,502		)
Earnings (loss) from continuing operations	21,863			57,885			65,026			34,305			(17,995		)	150,261			67,986			234,557			281,799
Earnings (loss) from discontinued operations, net of tax	125			(153		)	17			(814		)	(868		)	175,730			625			174,673			1,926
Net earnings (loss)	21,988			57,732			65,043			33,491			(18,863		)	325,991			68,611			409,230			283,725
Net loss attributable to noncontrolling interests	4,417			1,573			568			2,394			867			821			1,561			5,643			2,059
Net earnings (loss) attributable to IAC shareholders	$	26,405		$	59,305		$	65,611		$	35,885		$	(17,996	)	$	326,812		$	70,172		$	414,873		$	285,784

The Company's primary financial measure is Adjusted EBITDA, which is defined as operating income excluding: (1) stock-based compensation expense; (2) depreciation; and (3) acquisition-related items consisting of (i) amortization of intangible assets and impairments of goodwill and intangible assets and (ii) gains and losses recognized on changes in the fair value of contingent consideration arrangements. The Company believes this measure is useful for analysts and investors as this measure allows a more meaningful comparison between our performance and that of our competitors. Moreover, our management uses this measure internally to evaluate the performance of our business as a whole and our individual business segments. The above items are excluded from our Adjusted EBITDA measure because these items are non-cash in nature, and we believe that by excluding these items, Adjusted EBITDA corresponds more closely to the cash operating income generated from our business, from which capital investments are made and debt is serviced. Adjusted EBITDA has certain limitations in that it does not take into account the impact to IAC's statement of operations of certain expenses. The information presented above should be read in conjunction with IAC's historical consolidated financial statements and notes thereto found on the U.S. Securities and Exchange Commission's website at http://www.sec.gov.