Angi Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:23 pm EST
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Angi Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 371.84 million compared to USD 498.04 million a year ago. Net loss was USD 5.36 million compared to USD 17.48 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to USD 0.03 a year ago. Diluted loss per share from continuing operations was USD 0.01 compared to USD 0.03 a year ago.
For the nine months, sales was USD 1,139.31 million compared to USD 1,449.98 million a year ago. Net loss was USD 35.38 million compared to USD 75.1 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to USD 0.15 a year ago. Diluted loss per share from continuing operations was USD 0.07 compared to USD 0.15 a year ago.
Angi Inc. connects home service professionals with consumers across approximately 500 different categories, from repairing and remodeling homes to cleaning and landscaping. The Companyâs segments include Ads and Leads, Services, Roofing, and International (includes Europe and Canada), and operates under multiple brands including Angi, HomeAdvisor, and Handy. Ads and Leads segment provides service professionals the capability to engage with potential customers, including quoting and invoicing services, and provides consumers with tools and resources to help them find local, pre-screened and customer-rated service professionals nationwide for home repair. Services segment provides a pre-priced offering service, pursuant to which consumers can request services through Angi and Handy branded platforms. Roofing segment provides roof replacement and repair services, primarily in Florida. International segment operates international businesses, such as Travaux, MyHammer and Werkspot.