Third quarter earnings reports are rolling out, and we’re covering all the major real estate and mortgage brands for you. Next up: Move
During the calendar year’s third quarter (though Q1 for News Corp’s fiscal year), Move, the parent company of Realtor.com, saw a 30 percent year-over-year revenue increase to $180 million.
Realtor.com’s referral services generated 32 percent of Move’s quarterly revenue.
“Digital Real Estate Services was again a source of express growth, with both REA Group and Move benefiting from robust yield growth, increased audience and expansion into adjacencies,” News Corp Chief Executive Robert Thomson said in a statement. “The US housing market is sturdy, with price rises, moderating more properties coming to the market and longer listing times all of which works in our favor.”
Realtor.com’s also saw a 7 percent annual growth in traffic, with average monthly unique users growing to 97 million.
Move is a part of the massive News Corp umbrella of organizations, which saw net income increase 468 percent annually from $47 million to $267 million.