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Angie’s List forecasts revenue below Street

24
Jul
2014

(Reuters) – Angie’s List Inc, which operates a website that allows users to review local businesses, forecast quarterly revenue below estimates and reported a bigger-than-expected quarterly loss as it spent more to sign up customers. Angie’s List said it expects revenue of $80.5 million-$82.5 million for the third quarter ending September. Analysts on average were expecting $86.63 million, according to Thomson Reuters I/B/E/S. The company also forecast marketing expenses of $20 million-$23 million. “We increased marketing spend during a seasonally strong period and had a record quarter in gross new member additions,” Chief Executive Bill Oesterle said in a statement on Wednesday.

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