Angie’s List Inc (NASDAQ:ANGI) stock saw a huge jump after releasing its earnings report for Q1 2015.
Angie’s List earnings per share for the first quarter of 2015 was 7 cents, or $4.4 million. This is up from the 6 cents per share reported in Q1 2014. The company also reported revenue of $83.5 million. This didn’t beat analysts’ revenue estimates of $84.7 million for the first quarter of 2015, reports The Wall Street Journal.
Angie’s List also reported that its total paid memberships were at 3.1 million. This is up 18% from last year. However, the company’s gross paid memberships were down 20%. Revenue coming from paid memberships was $17.3 million in Q1 2015, WSJ notes.
“We had a positive start to the year. We strengthened the foundation of our marketplace by adding inventory and growing gross merchandise value,” Bill Oesterle, CEO of Angie’s List, told Benzinga. “Further, we improved our efficiency with respect to membership acquisition, enhanced service provider sales efficiency and delivered leverage in key expense line items.”
ANGI shares were up 14% as of Wednesday morning.
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