Angi Inc is a leading digital marketplace that connects homeowners with service professionals for various home improvement and repair projects
The company provides a platform where users can find and hire local contractors for services such as plumbing, landscaping, and remodeling. By offering customer reviews, ratings, and detailed service offerings, Angi aims to simplify the process of home project management while enhancing the overall customer experience. Through its innovative technology and extensive network of professionals, Angi Inc strives to empower homeowners to make informed decisions and to foster relationships between consumers and service providers.
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Shares of home services online marketplace ANGI (NASDAQANGI)
jumped 4.6% in the afternoon session after the company reported strong fourth-quarter results, significantly surpassing analysts' sales and profit expectations. Its service request volume, a key pulse check on customer demand, exceeded Wall Street estimates, driving the revenue beat. The company didn't explicitly provide sales forecasts but gave EBITDA guidance in line with consensus estimates, which is reassuring. Zooming out, we think this quarter featured some important positives.
Home services online marketplace ANGI (NASDAQANGI) reported Q4 CY2024 results beating Wall Street’s revenue expectations, but sales fell by 10.8% year on year to $267.9 million. Its GAAP loss of $0 per share was in line with analysts’ consensus estimates.
DENVER, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Angi Inc. (NASDAQANGI) posted its fourth quarter financial results and a letter to shareholders from Jeffrey Kip on the investor relations section of its website at ir.angi.com/quarterly-earnings. As announced previously, Angi Inc. and IAC will host a conference call to discuss both companies’ respective fourth quarter results and to answer questions. The call will be held on Wednesday, February 12, 2025, at 8:30 a.m. ET. Barry Diller, Chairman and Senior Executive of IAC, Joey Levin, CEO of IAC and Chairman of Angi Inc., Jeffrey Kip, CEO of Angi Inc., and Christopher Halpin, Executive Vice President, CFO and COO of IAC, will participate.
DENVER, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Homeownership continues to play a central role in the American dream, and despite navigating tighter budgets and rising stress levels, homeowners remain dedicated to the care and improvement of their homes. Angi’s 2024 State of Home Spending Report reveals that 93% of homeowners plan to take on home projects in 2025, even as total spending on home projects dropped by 12% in 2024.
Shares of home services online marketplace ANGI (NASDAQANGI)
jumped 9% in the afternoon session after IAC's board approved a plan to fully spin off its stake in Angi. As part of the move, Joey Levin will step down as IAC CEO to become Executive Chairman of Angi. The spin-off is expected to give IAC shareholders direct ownership of Angi, fully separating the two companies. It will also eliminate Angi's dual-class structure, streamlining its governance. This simplified structure is expected to support Angi's growth by providing more flexibility to make acquisitions, raise capital, and attract talent.
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Over the last six months, Angi’s shares have sunk to $1.84, producing a disappointing 18.6% loss - a stark contrast to the S&P 500’s 13.5% gain. This might have investors contemplating their next move.
