Angie's List revenue misses estimates; shares fall
Oct 23 (Reuters) - Online review company Angie's List Inc reported quarterly revenue that fell short of the average analyst estimate as marketing expenses rose and first-year membership renewal rates declined.
Angie's List shares were down 15 percent in after-market trading.
The company's net loss narrowed to $13.5 million, or 23 cents per share, in the third quarter, from $18.5 million, or 32 cents per share, a year earlier.
Revenue rose 56 percent to $65.5 million. Analysts had expected revenue of $66.1 million, according to Thomson Reuters I/B/E/S.
Marketing expenses rose 8 percent, while the first-year membership renewal rate slipped to 75 percent from 76 percent.
(Reporting by Soham Chatterjee in Bangalore; Editing by Maju Samuel)