Skip to main content

Angi (ANGI) Reports Earnings Tomorrow: What To Expect

ANGI Cover Image

Home services online marketplace ANGI (NASDAQ:ANGI) will be announcing earnings results tomorrow after the bell. Here’s what investors should know.

Angi beat analysts’ revenue expectations by 3.5% last quarter, reporting revenues of $315.1 million, down 10.4% year on year. It was a mixed quarter for the company: Angi beat analysts' revenue and service request expectations this quarter, but we note that sales and service requests (growth indicator) declined. It reported 4.94 million service requests, down 28% year on year.

Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Angi’s revenue to decline 15.6% year on year to $296.3 million, improving from the 29.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.

Angi Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Angi has missed Wall Street’s revenue estimates six times over the last two years.

Looking at Angi’s peers in the gig economy segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Lyft delivered year-on-year revenue growth of 31.5%, beating analysts’ expectations by 5.7%, and Upwork reported revenues up 10.3%, topping estimates by 5.3%. Lyft traded up 22.8% following the results while Upwork was also up 11.2%.

Read our full analysis of Lyft’s results here and Upwork’s results here.

There has been positive sentiment among investors in the gig economy segment, with share prices up 11% on average over the last month. Angi is up 2% during the same time and is heading into earnings with an average analyst price target of $3.68 (compared to the current share price of $2.54).

Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefitting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.