Angi Inc. (NASDAQ: ANGI) shares soared 9.83% in the after-hours trading session on Tuesday, following the company's better-than-expected fourth quarter sales results. The home services marketplace reported Q4 sales of $267.9 million, surpassing analyst estimates of $254.5 million by 5.28%.
While Angi's quarterly sales declined 10.83% year-over-year, the beat suggests the company is navigating headwinds from fewer service requests and difficulties in adding new professionals. Angi's parent company IAC stated that revenue declines at Angi will improve sequentially through 2025, with a return to growth expected in 2026.
IAC's Q4 total revenue of $989.3 million also topped estimates, driven by a 10% increase in digital revenue at its Dotdash Meredith business. However, IAC forecast its 2025 adjusted EBITDA below consensus, citing one-time costs related to Angi's planned spin-off and CEO transition charges. The spin-off of Angi from IAC is anticipated to close in the first half of 2025.
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