Despite growth, Trulia misses 1Q expectations
Total revenue up 127% year-over-year
Trulia (TRLA) missed earnings estimates by 2 cents despite posting a strong increase in first-quarter results.
The online real estate company recorded total revenue for the first quarter of 2014 of $54.5 million, up 127% year-over-year.
Meanwhile, marketplace revenue hit $45.8 million, up 155% year-over-year, while media revenue increased 45% year-over-year, reaching $8.7 million.
Net loss attributable to common stockholders for the first quarter of 2014 was $15.2 million, or 41 cents per share on a basic and diluted basis, compared with a net loss of $2.0 million, or 7 cents per share on a basic and diluted basis, for the first quarter of 2013.
“In Q1 we added more than 7,000 subscribers, which is a record for the company and continues to demonstrate the momentum we are gaining amongst agents who want to connect with transaction- ready buyers and sellers,” said Pete Flint, CEO of Trulia.
“In the real estate category, agents want to be in front of the most qualified consumers where they receive high quality leads. We now have approximately 66,700 agents using Trulia to drive their business, build a pipeline of clients and close more deals by reaching the nearly 50 million unique visitors that are expected to come to Trulia in the month of April,” Flint said.
Looking ahead, Trulia estimates its second-quarter total revenue to be in the range of $61.5 million to $62.5 million, and its total revenue for the full year 2014 to be in the range of $250 million to $253 million, an increase of $5 million from the prior outlook.