ANGI - Why Angi Stock Jumped Today
2023-05-10 14:44:49 ET
Shares of home-services marketplace Angi (NASDAQ: ANGI) were climbing today as the company posted better-than-expected results in its first-quarter earnings report, beating revenue estimates and reporting a solid improvement in earnings before interest, taxes, depreciation, and amortization ( EBITDA ).
Shares of Angi were up 22.8% as of 2:27 p.m. ET.
Revenue was down 10% to $392.4 million due to a change in the way it recognizes revenues in its services business, but that topped the consensus at $384.5 million. On a comparable basis, revenue was up 1% in the quarter.
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Why Angi Stock Jumped Today