ANGI - Angi revenue growth slows down again in August

• Angi ( NASDAQ: ANGI ) showed another deceleration in revenue growth in its August metrics, where it reported yet another decline in operating measures.
• Total revenue grew 8% year-over-year, a slowdown from July's 10% pace, and the 27% and 24% growth of June and May respectively. European revenue grew just 3% year-over-year, while North American revenue grew 8%.
• Those figures reflected an unfavorable adjustment made to August 2021 revenues; excluding that, ads and leads revenue growth would have been 9% instead of 6%, and total revenue growth would have been 10% rather than 8%.
• Service requests fell by 8%, keeping up a multi-month downward trajectory, and monetized transactions slipped by 8% as well. Transacting service professionals on the platform dropped by 6%, as did advertising service pros.
• Angi stock ( ANGI ) fell 10.2% Tuesday, to an all-time low, as investors reacted to news that the company was suddenly changing CEOs .

For further details see: