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Angie's List shares jump after quarterly report

 IBJ Staff
April 23, 2014
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Indianapolis-based Angie's List's stock rose nearly 10 percent in after-hours trading Wednesday after the online consumer-reviews service posted a smaller quarterly loss on higher revenue.

Revenue for the quarter hit $72.7 million in the first quarter ended March 31, an increase of 39 percent from $52.2 million in the prior-year period. Revenue exceeded analyst expectations by about $400,000.

The company met analyst expectations by losing $3.8 million, or 6 cents per share, in the quarter, down from a loss of $7.9 million, or 14 cents per share, a year earlier.

"The first quarter represented solid performance for the company," Angie's List CEO Bill Oesterle said in a prepared statement. "We grew fast, produced cash and improved margins, all while investing in new products and upgrading our technology. I am pleased with the progress we have made against our operating plan for the full year."

The company said total paid memberships rose 35 percent over the year-ago quarter, to about 2.6 million. Revenue from paid memberships rose 25 percent, to $18.3 million.

Revenue from the company's service-provider business, which includes sales from advertising contracts and e-commerce fees, rose 45 percent. The business gets nearly three-quarters of its total revenue from the business.

The company predicted revenue in the range of $79.5 million to $80.5 million for the second quarter, beating analyst expectations of $79.1 million.

Angie's List shares closed at $12.82, down 8 cents on the day, before jumping 9.1 percent after-hours, to $13.99 each.


 

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  1. How much you wanna bet, that 70% of the jobs created there (after construction) are minimum wage? And Harvey is correct, the vast majority of residents in this project will drive to their jobs, and to think otherwise, is like Harvey says, a pipe dream. Someone working at a restaurant or retail store will not be able to afford living there. What ever happened to people who wanted to build buildings, paying for it themselves? Not a fan of these tax deals.

  2. Uh, no GeorgeP. The project is supposed to bring on 1,000 jobs and those people along with the people that will be living in the new residential will be driving to their jobs. The walkable stuff is a pipe dream. Besides, walkable is defined as having all daily necessities within 1/2 mile. That's not the case here. Never will be.

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