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An announcement from Angi ( (ANGI) ) is now available.
Angi Inc. reported a decrease in revenue by 11% year-over-year to $267.9 million for Q4 2024, with operating income dropping 72% to $2 million and Adjusted EBITDA falling 23% to $32 million. These declines were primarily due to reduced consumer marketing expenses and fewer service requests, despite a growth in international revenue and an increase in Ads and Leads operating income by 21%. Angi is set to be spun off by IAC, with the transaction expected to close in the first half of 2025, and Joey Levin has been appointed as Executive Chairman, marking a significant shift in the company’s strategic direction.
More about Angi
Angi Inc. operates in the online home services industry, providing a digital marketplace that connects homeowners with service professionals for repair, maintenance, and improvement projects. The company focuses on enhancing user experience and optimizing service margins to better serve its domestic and international markets.
YTD Price Performance: 8.02%
Average Trading Volume: 1,129,623
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $885.5M
For detailed information about ANGI stock, go to TipRanks’ Stock Analysis page.
