NEW YORK (TheStreet) -- Angie's List (ANGI) is gaining Thursday after the company narrowed its net losses and increased revenue double-digits over its first quarter.
By midmorning, shares had added 2.8% to $13.18.
The online reviews site said quarterly sales jumped 40% year over year to $72.7 million, boosted by a 35% increase in total paid memberships to 2.6 million.
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That momentum is expected to continue. For its second quarter, management guided for revenue between $79.5 million and $80.5 million, exceeding Thomson Reuters' average estimates of $79.1 million.
On its bottom-line, Angie's List more than halved its net loss to $3.8 million. Per-share net losses were 6 cents from 14 cents a year earlier.
