Angi Inc (ANGI): ANGI Homeservices sees boost from Angie&...

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roger wilco

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Wednesday, 02/07/2018 8:09:34 PM

Wednesday, February 07, 2018 8:09:34 PM

ANGI Homeservices sees boost from Angie's List deal

ANGI Homeservices (NASDAQ:ANGI) posted higher adjusted income and sharply higher revenues in its Q4 earnings with a full quarter under its belt as a newly larger company.

Revenue rose 80% due to 32% growth in Marketplace as well as a full quarter from Angie's List, which was merged with IAC HomeAdvisor in September to create ANGI Homeservices.

The company swung to an operating loss (of $33.9M) due to costs and deferred revenue write-offs connected to the Angie's List deal. Excluding the transaction-related items, operating income was $13.3M vs. a year-ago $6.2M.

Total EBITDA grew 36% to $16.2M, driven by the higher revenue.

Revenue breakout: Marketplace, $139.4M (up 32%); Advertising & Other, $68.8M (up 736%); Europe, $15M (up 48%).

In operations, Marketplace service requests grew 36% to 4,227; Marketplace Paying Service Professionals were up 26% to 181, and Angie's List Advertising Service Professionals fell 9% to 45.

https://seekingalpha.com/news/3329185-angi-homeservices-sees-boost-angies-list-deal