ANGI - 3 Key Takeaways From ANGI's Earnings Report
ANGI Homeservices (NASDAQ: ANGI) may finally be turning the corner.
After a brutal year that saw the stock fall nearly 60% coming into the third-quarter report, shares of the HomeAdvisor parent surged Thursday, finishing up 21.5%. It topped expectations on both the top and bottom lines and posted 22% adjusted revenue growth, its fastest clip since it merged HomeAdvisor with Angie's List.
The company dialed back its Adjusted EBITDA guidance for the year, calling for $200 million-$205 million rather than the previous range of $200 million-$230 million, but investors gave the company the benefit of the doubt as CEO Brandon Ridenour explained the lower guidance was from stepping up investments across the business.