Angie's List Tops Profit Estimates As Revenue Falls Short

Angie's List, a provider of reviews, offers and data in more than 700 categories of home-improvement and repairs, said Wednesday it had net income of 48.9 million, or 15 cents a share, in the fourth quarter , down from $14.2 million, or 24 cents a share, in the year-earlier period. Revenue fell to $76.7 million from $86.3 million. the FactSet consensus was for EPS of 8 cents and revenue of $78.0 million. The company had gross member additions of 0.8 million in the quarter and 2.9 million in the year, bringing its total members to 5.1 million by year end. "In 2017, we have three priorities: 1) Build products that increase member engagement, 2) Strengthen the value proposition to our service providers, and 3) Continue to improve our cost structure," Chief Executive Scott Durchschlag said in a statement. Shares rose 3% in premarket trade, but are down about 34% in the last 12 months, while the S&P 500 has gained 25%.