Shares of Angi Inc. (ANGI) surged 14.81% in after-hours trading on Tuesday, following the release of the company's impressive second-quarter financial results that significantly exceeded analyst expectations.
The home services marketplace reported a robust Q2 performance, with revenue reaching $278.2 million, comfortably surpassing the IBES estimate of $261.9 million. The company's bottom line also showed strength, with earnings per share (EPS) coming in at $0.23 and net income totaling $10.9 million for the quarter.
Angi's operational efficiency was evident in its Q2 operating income of $17.7 million. Furthermore, the company's adjusted EBITDA of $33 million outperformed the IBES estimate of $31.6 million, underlining the firm's ability to generate strong cash flows. These results demonstrate Angi's continued growth and improving profitability in the competitive home services market, likely fueling investor optimism and driving the significant after-hours stock price increase.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.