Angie’s List today posted a net income of $15.2 million in the fourth quarter of 2014, about five times more than the $2.8 million in the same period one year ago. Overall total revenue grew to $82.1 million, up from the prior-year total of $68.7 million.
Operating income nearly quintupled to $15.9 million in the fourth quarter of 2014 from $3.2 million in 2013's October-to-December period. The company reduced marketing expenses to $5.4 million from $11.6 million in the fourth quarter of last year, but total operating expenses were still higher than the same period last year, up from $65.4 million to $66.2 million.
The 2014 year ended with a net income loss of $12 million, improving from last year’s net income loss of $32.9 million.
Although the fourth quarter was a milestone for the company with membership hitting the three million mark, Angie’s list continues to be controversial among remodelers. A year ago, based on one reader's request, Remodeling asked readers what they thought about boycotting Angie's List and got over 200 responses. The Columbus Dispatch also reported on the issue earlier this year.