Angie's List Gets Hammered As It Can't Keep Up With High Expectations

This post was originally published on this site — The market is a harsh mistress. 

Despite beating estimates and reporting three-straight months of sales growth, ANGI Homeservices (NASDAQ:ANGI) sank 11%.

The problem, it would seem, is that July revenue grew just 7% compared to 15% and 14% for May and June, respectively. 

The company, which connects home services providers with anyone seeking a home service, reported earnings per share of 2 cents for the second quarter compared to an expected loss per share of 1 cent on sales of $375 million, higher than the forecasted $364 million.

The company is majority-owned by IAC/InterActiveCorp (NASDAQ:IAC), which recently bought a $1 billion stake in MGM Resorts (NYSE:MGM). 

Shares of ANGI are up 64% this year.

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