# People Incorporated Posts $687.5 Million Q3 Loss, Including MGM Investment Loss

By John Kim

Canonical URL: https://www.tokenpost.com/news/business/47153
Published: 2026-11-03T01:56:08.000Z
Updated: 2026-11-03T01:56:08.000Z
Section: Business

> An unrealized loss on the MGM investment reached $1.12 billion. Revenue fell 4% to $430.8 million.

People Incorporated (NASDAQ: PPLI) posted a $687.5 million loss attributable to shareholders for Q3 2026, including a $1.12 billion unrealized loss on its MGM Resorts International investment. The loss was $9.15 per diluted share, compared with 27 cents a year earlier.

The investment loss reversed a $17.5 million unrealized gain in the same quarter of 2025. People Incorporated’s total revenue declined 4% to $430.8 million from $447.1 million. Its consolidated operating loss narrowed to $3 million from $27.2 million. Companywide Adjusted EBITDA was $54.8 million, versus $55.1 million in Q3 2025.

At People Inc., the publishing business, digital revenue rose 2% to $288.5 million while print revenue fell 16% to $127.6 million. The segment recorded $37.2 million in operating income and $70.4 million in Adjusted EBITDA. Total sessions dropped to 1.794 billion from 2.377 billion a year earlier. People Incorporated tied the 6% decline in session-based revenue to a faster impact from AI-oriented search and content discovery experiences.

People Incorporated held $1.3 billion in cash and cash equivalents as of Sept. 30, including $372.4 million at People Inc. It also owned 66.8 million MGM shares. As of Oct. 30, 12.5 million shares remained under its repurchase authorizations. Barry Diller, the company’s chairman and senior executive, said, “With ample capital, we’re well positioned to invest in our own stock and pursue opportunities for value creation.”

The company’s full-year 2026 outlook calls for $263 million to $283 million in total Adjusted EBITDA and $6 million to $49 million in operating income. Staffing reductions made Oct. 29 are expected to result in $15 million to $20 million in fourth-quarter severance and employee separation benefits expense. People Incorporated changed its name from IAC on June 4, 2026.

The company’s Q3 results call is scheduled for 8:30 a.m. ET (13:30 UTC) Tuesday, Nov. 3.