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Angie's List (ANGI) Misses Q4 EPS by 2c

February 23, 2016 7:31 AM

Angie's List (NASDAQ: ANGI) reported Q4 EPS of $0.24, $0.02 worse than the analyst estimate of $0.26. Revenue for the quarter came in at $86.3 million versus the consensus estimate of $87.68 million.

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Angie’s List marked a number of major milestones in 2015. We achieved the first profitable year in our history, with net income of $10 million – a $22 million positive swing from the prior year,” said Scott Durchslag, Angie’s List President and Chief Executive Officer. “Since 1995, the Company has set the bar for delivering excellent outcomes between our members and service providers. We’ve accumulated more than ten million verified reviews, built a base of more than three million members, created the iconic brand in home services, and today, attract 10-12 million unique visitors per month to our website. However, we can do more to capitalize on this strong foundation.”

“Since I joined Angie’s List just six months ago, we’ve launched change across the Company to strengthen customer loyalty, improve operating efficiency, and enhance our product, technology and marketing capabilities. New products, including LeadFeed, Angie’s Fair Price Guarantee and Angie’s Service Quality Guarantee, as well as the initial rollout of our new Angie’s List 4.0 technology platform are just a few examples. We are executing smarter, faster and with more discipline based on data driven decisions than ever before.”

“For the full year, we increased the number of participating service providers and grew service provider revenue by 14%. While member revenue declined from a year ago, we grew total members by 8% to 3.3 million.”

“In the fourth quarter, we generated $19.6 million in adjusted EBITDA1 as we grew revenue and delivered leverage in key expense line items. We improved member renewal rates, formally baselined our Net Promoter Score and grew the number of unique visitors to our site.”

“While we expect to share details on our Profitable Growth Plan and our priorities for 2016 at our upcoming investor day on March 3, given the progress we are making, I have great confidence in the growth and value creation opportunities that lie ahead.”

For earnings history and earnings-related data on Angie's List (ANGI) click here.

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