===Angie's List (ANGI) reported earnings on Tue 1 Nov 2016 (b/o)

Angie's List misses by $0.15, misses on revs :

• Reports Q3 (Sep) GAAP loss of $0.28 per share, $0.15 worse than the Capital IQ Consensus of ($0.13); revenues fell 8.4% year/year to $79.7 mln vs the $82.17 mln Capital IQ Consensus driven by a decline in service provider and membership revenues. Service provider revenue, which includes advertising and e-commerce, was $66.1 million, a decline of 5% compared to a year ago. Service provider revenue was negatively impacted by our technology platform migration, which contributed to lower e-commerce revenue and service provider renewal rates. Membership revenue was $13.7 million, down 20% from $17.2 million in the year-ago quarter, due to decreases in paid membership renewal and conversion rates associated with the removal of our ratings and reviews paywall in June, which drove quarter over quarter declines in both gross paid memberships added and total paid memberships.
• "Since removing the reviews paywall, we've had great success attracting new members," said Scott Durchslag, President and Chief Executive Officer of Angie's List. "We've added nearly two million members since June and now have 4.5 million members nationwide. These record-setting new member additions are up five-fold year over year, with a near tripling in new members viewing service provider profiles and new members searching Angie's List. At the same time, our brand is getting even stronger, reaching record-setting levels of aided brand awareness of 97% and unaided brand awareness of 61%." "Service provider metrics were also strong as we added nearly 1,400 net new service providers in the quarter and grew new service provider contract value, or what we call 'originations bookings,' both sequentially and year over year. Overall, we are making good progress on the plan that we announced in March and leading indicators of future results are improving nicely." "That said, our revenue and adjusted EBITDA1 are down year over year so our financial results are lagging the leading indicators in our operating metrics, as often happens when changing business models. While we've previously implemented changes in our cost structure to align it with our new business model, including $10 million in operating expense reductions, we are now able to execute an additional $15 million to $20 million of annualized cost efficiencies and reductions in the fourth quarter that will benefit 2017 and beyond."