May 5 (Reuters) - IAC reported a rise in core

profit in the first quarter on Monday, driven by lower expenses

and steady growth in its largest business.

Dotdash Meredith, IAC's biggest business, which owns and

operates top brands such as Food & Wine magazine and

Investopedia, reported a 7% rise in digital revenue, thanks to

higher premium advertising revenue.

"DDM's (Dotdash Meredith) sheer scale, loyal audiences,

beloved brands like PEOPLE and advertising performance continue

to differentiate it from the industry and underscore its growth

potential," said Barry Diller, IAC's chairman and senior

executive.

IAC reported adjusted earnings before interest, taxes,

depreciation and amortization (EBITDA) of $50.9 million for the

quarter ended March 31, up from $5.5 million a year ago.

For the first quarter, the company reported a 22% decline in

operating expenses, which fell to $534.7 million.

Early in April, IAC completed the spin-off of its majority

stake in the home services unit Angi ( ANGI ).

IAC's total revenue came in at $570.5 million for the first

quarter, compared with $624.3 million a year earlier.