Danny Pfeiffer's questions to IAC Inc (IAC) leadership • Q2 2025
Question
Danny Pfeiffer, on for Cory Carpenter, asked about the current penetration of Google AI overviews in search results affecting their content. He also requested further color on the pause in share repurchases during the second quarter.
Answer
People Inc. CEO Neil Vogel estimated Google AI overviews now appear on over 50% of relevant searches but emphasized the business is managed as if Google search traffic could go to zero, driving diversification. IAC CFO & COO Christopher Halpin noted the impact is manageable as Google search is only 28% of traffic. Regarding buybacks, Halpin reiterated the focus is on M&A, though the company continues to see value in its stock and actively contemplates both capital deployment options.