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Why Angie's List (ANGI) is Plummeting After Hours

NEW YORK (TheStreet) --  Angie's List (ANGI) is plummeting after posting fourth-quarter net income below Wall Street expectations.

After the bell, shares unloaded 12.7% to $17.10.

In the three months to December, the home services search engine reported per-share earnings of 5 cents. Analysts polled by Thomson Reuters had forecast 13 cents a share. Net income was impacted by a $4 million accrual for the pending settlement of an undisclosed piece of litigation.

Quarterly revenue of $68.8 million increased 49% year over year and exceeded consensus of $68.50 million.

Must Read: Why Zynga (ZNGA) Closed Higher on Wednesday

Over fiscal 2013, revenue jumped 58% to $245.6 million, compared to estimates of $245.37 million.

Management anticipates current-quarter revenue between $71.5 million and $72.5 million. Analysts had hoped for total sales of $74.14 million.

Also See: Why Angie's List is Rallying on Friday

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