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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAngie's List Inc. on Tuesday reported its first profitable year in the company's 21-year history.
The Indianapolis-based home-services reviews and marketplace firm, which went public in 2011, announced a 2015 profit of $10.2 million, or 18 cents per share, up from a loss of $12 million, or 21 cents per share, in 2014.
CEO Scott Durchslag, who joined Angie's List about six months ago, said the $22 million positive swing reflects progress the company is making on many fronts.
"We are executing smarter, faster and with more discipline based on data-driven decisions than ever before," he said.
The results, however, fell shy of analysts' expectations. The company in the fourth quarter earned $14.15 million, or 24 cents a share—2 cents below the forecast of analysts surveyed by Thomson Reuters. Revenue in the quarter was $86.26 million, missing analysts' forecast of $87.68 million.
Revenue in the latest quarter was up 5 percent from the same period a year earlier, but profit drooped 7.3 percent.
In pre-market trading Tuesday, the company's shares rose 14 cents, or 1.5 percent, to $9.34.
This story will be updated.
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