Angi (ANGI) Reports Q2: Everything You Need To Know Ahead Of Earnings

Home services online marketplace ANGI (NASDAQ: ANGI) will be reporting earnings this Tuesday after market close. Here’s what investors should know.

Angi beat analysts’ revenue expectations by 2.7% last quarter, reporting revenues of $245.9 million, down 19.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates and a decent beat of analysts’ number of service requests estimates. It reported 3.36 million service requests, down 18.5% year on year.

Is Angi a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Angi’s revenue to decline 17.1% year on year to $261.2 million, a further deceleration from the 10.4% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.37 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Angi has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Angi’s peers in the consumer internet segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Fiverr delivered year-on-year revenue growth of 14.8%, beating analysts’ expectations by 0.9%, and Shutterstock reported revenues up 21.3%, topping estimates by 7.5%. Fiverr traded down 11.7% following the results while Shutterstock’s stock price was unchanged.

Read our full analysis of Fiverr’s results here and Shutterstock’s results here.

Investors in the consumer internet segment have had steady hands going into earnings, with share prices flat over the last month. Angi is down 1.3% during the same time and is heading into earnings with an average analyst price target of $20.75 (compared to the current share price of $15.87).

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