Internet Stocks Tick Higher as Angie's List (ANGI), Zillow (Z) Results Beat Views (ZNGA) (GRPN)
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Internet stocks are seeing some upside following strong quarterly results from Angie's List (NYSE: ANGI).
Issued after markets closed on Wednesday, Angie's List reported fourth-quarter 2012 EPS of 4 cents on revs of $46.2 million. The number compares with consensus views calling for a loss of 2 cents per share with revs of $45.6 million.
Guidance was also strong; Angie's List said it sees fir-quarter 2013 revs of $51 million to $52 million, with the Street at revs of $49.4 million.
The company reported a 66 percent increase in paid memberships while marketing costs per paid user fell 24 percent.
Notably, Zillow (Nasdaq: Z) reported quarterly results on Wednesday night as well.
With bigger names like Zillow and Angie's List proving that Internet service providers retain a strong spot with the consumer, traders and investors will be expecting better things from the rest of the group.
Higher today include names like Zillow, Zynga (Nasdaq: ZNGA), and Groupon (Nasdaq: GRPN), among others. Notably, Zillow reported quarterly results on Wednesday night as well.
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Issued after markets closed on Wednesday, Angie's List reported fourth-quarter 2012 EPS of 4 cents on revs of $46.2 million. The number compares with consensus views calling for a loss of 2 cents per share with revs of $45.6 million.
Guidance was also strong; Angie's List said it sees fir-quarter 2013 revs of $51 million to $52 million, with the Street at revs of $49.4 million.
The company reported a 66 percent increase in paid memberships while marketing costs per paid user fell 24 percent.
Notably, Zillow (Nasdaq: Z) reported quarterly results on Wednesday night as well.
With bigger names like Zillow and Angie's List proving that Internet service providers retain a strong spot with the consumer, traders and investors will be expecting better things from the rest of the group.
Higher today include names like Zillow, Zynga (Nasdaq: ZNGA), and Groupon (Nasdaq: GRPN), among others. Notably, Zillow reported quarterly results on Wednesday night as well.
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