Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Angie's List (ANGI) jumped 29% today after the company reported earnings.
So what: First quarter revenue jumped 68%, to $52.2 million, ahead of the $51.5 million estimate. The company did lose $7.9 million, or $0.14 per share, but that was $0.03 ahead of estimates, so investors were happy with it.
Now what: Both top-line and bottom-line numbers were ahead of estimates, and second quarter guidance was also better than expected. I'm still leery of buying into a business that's losing money and is expecting to all year. Until Angie's List starts posting a profit, I'll stay away, even though revenue is growing very quickly.
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