Why Angi Stock Plunged Today
Shares of Angi (NASDAQ: ANGI) were taking a dive today after the company reported a sharp drop in revenue, but made progress on the bottom line.
As a result, the stock was down 30.3% as of 1:44 p.m. ET.
Angi said that revenue in the quarter was down 27% to $375.1 million, reflecting a change in the way it recognizes revenue in its services segment. On a pro forma basis, revenue was down 16%. That result was in line with analyst estimates.
Source Fool.com
