Earnings ·
People Inc. reports Q3 net loss of $687M, driven by $1.1B unrealized MGM investment loss
IACPeople Inc
People Inc. reported a third-quarter net loss of $687.5 million and diluted loss per share of $9.15 for the period ended September 30, 2026. The results were heavily impacted by an unrealized loss of $1.12 billion on its investment in MGM Resorts International. Excluding this non-cash item, the company reported total operating income of $37 million and Adjusted EBITDA of $54.8 million. Revenue declined 4% to $430.8 million, with Digital revenue growing 2% to $289 million while Print revenue fell 16%. The company generated $80 million in free cash flow for the first nine months and holds $1.3 billion in cash. People Inc. operates a diversified media and investment holding business.