MOVE 2014 revenue up 7%
Partnerships, new technology drive achievements
Move, Inc. (MOVE) Thursday reported financial results for the fourth quarter ended December 31, 2013.
Fourth quarter 2013 revenue was up 7% year-over-year to $56.5 million. Consumer advertising revenue increased 6% year-over-year to $43.5 million.
Software and Services revenue increased 12% year-over-year to $12.9 million. The average monthly unique users of Move's web and mobile sites grew 13% year-over-year to 23.9 million in the fourth quarter.
“Our achievements in 2013, including technology integrations, new content offerings and strategic acquisitions, have laid the foundation to make 2014 what we believe will be a groundbreaking year—for delivering outstanding performance and reaching new heights of innovation for our industry clients, buyers and sellers," said Steve Berkowitz, CEO of Move. "Leveraging our comprehensive consumer experience, deep industry ties and unparalleled quality of data content enables us to provide the most superior and trustworthy customer experience for Realtors and consumers alike.”
Berkowitz said he expects in the first quarter of 2014 revenue of approximately $58 million, and revenue of $254–$258 million for the full 2014 year.
Cash provided by operating activities was $11.9 million and $10.3 million for the quarters ended December 31, 2013 and 2012, respectively.
From the report:
· Move started 2014 ringing the opening bell at NASDAQ after an exciting fourth quarter where it:
· Acquired FiveStreet, Inc., which provides a lead consolidation and response tool for agents, agent-teams and brokerages;
· Expanded its longstanding business relationship with Bankrate with a multi-year extension of their alliance and expansion of mortgage content across Move brands;
· Grew its technology efficiencies and outputs, as well as increased its media share of voice by over 10 times (as compared with last year); and
· Provided REALTORS® with webinars focused on optimizing and growing their businesses with Move solutions.
In the fourth quarter of 2013, realtor.com® made great strides in for its brand, customers and consumers as it expanded content, as well as new features, on its website and mobile apps. Among its accomplishments, realtor.com:
· Enhanced its rentals app to offer location-based listing notifications and iOS 7 AirDrop sharing;
· Significantly grew the number of new homes and rentals listings available on realtor.com;
· Became an official and category exclusive sponsor of the San Jose Sharks for the 2013-14 NHL season;
· Expanded Realtor profiles through SocialBios, the profile management platform that connects agents with consumers; and
· Realtor.com international was honored with a Global Achievement Award from the National Association of Realtors.