ANGI - Angi GAAP EPS of -$0.03 misses by $0.01 revenue of $375.1M misses by $27.29M
2023-08-08 16:13:59 ET
- Angi ( NASDAQ: ANGI ): Q2 GAAP EPS of -$0.03 misses by $0.01 .
- Revenue of $375.1M (-27.3% Y/Y) misses by $27.29M .
- Ads and Leads revenue decreasing 14% due to ongoing user experience enhancements, homeowner and service professional acquisition optimizations and macro impact on overall demand.
- Services revenue decreasing 18% due to exiting complex services at the end of 2022 and margin optimization initiatives
- Roofing revenue decreasing 43% due to lower demand and exiting certain markets over the past year
- International revenue increasing 17% driven primarily by a larger service professional network and higher revenue per service professional
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Angi GAAP EPS of -$0.03 misses by $0.01, revenue of $375.1M misses by $27.29M