Angie’s List Earnings: Profits FALL

Angie’s List (NASDAQ:ANGI) reported results for the first quarter. Angie’s List operates a consumer-driven solution for members to research, hire, rate and review local professionals.

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Results: Net income for the company fell to a loss of $23.4 million (41 cents per share) vs. a loss of $15.3 million (.60 cents per share) in the same quarter a year earlier.

Revenue: Revenue rose 74% to $36.5 million from $20.9 million in the same quarter last year.

Quoting Management: “The business grew very well in the second quarter. We hit new records for membership, service provider revenue and total revenue,” said Angie’s List CEO Bill Oesterle. “Operating metrics were both consistent and strong.”

Looking Forward: For the next quarter, analysts are increasingly pessimistic about the company’s performance. The average estimates for the is at a loss of 30 cents per share, down from 29 cents ninety days ago. Down from a loss of 92 cents per share ninety days ago, the average estimate for the fiscal year is now a loss of 99 cents.

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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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