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Angie's List reports first profitable year in company history

February 23, 2016

Angie's List Inc. on Tuesday reported its first profitable year in the company's 21-year history.

The Indianapolis-based home-services reviews and marketplace firm, which went public in 2011, announced a 2015 profit of $10.2 million, or 18 cents per share, up from a loss of $12 million, or 21 cents per share, in 2014.  

CEO Scott Durchslag, who joined Angie's List about six months ago, said the $22 million positive swing reflects progress the company is making on many fronts.

"We are executing smarter, faster and with more discipline based on data-driven decisions than ever before," he said.

The results, however, fell shy of analysts' expectations. The company in the fourth quarter earned $14.15 million, or 24 cents a share—2  cents below the forecast of analysts surveyed by Thomson Reuters. Revenue in the quarter was $86.26 million, missing analysts' forecast of $87.68 million.

Revenue in the latest quarter was up 5 percent from the same period a year earlier, but profit drooped 7.3 percent.

In pre-market trading Tuesday, the company's shares rose 14 cents, or 1.5 percent, to $9.34.

This story will be updated.
 

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