Move Inc., an online real estate website, had a 6% increase in revenue from Q212 with $49.9 million, or 4 cents a share, compared to $242,000, or 1 cent a share a year prior.
CEO Steve Berkowitz of Move, Inc. said in a statement that the company saw an increase in revenue because of the process being made through the company’s strategic initiatives, growing business strength and expanding marketing opportunities through recent acquisitions such as TigerLead Solutions and Relocation.com.
Move Inc. acquired Relocation.com in October as a way to become a more comprehensive online source for consumers and real estate professionals.
The acquisition shows a positive reflection in the company’s third quarter earnings.
“We are poised to exit the year in a stronger competitive position, with a broader and more stable product set that offers greater upside potential and with growing consumer engagement metrics that highlight our market leadership,” Berkowitz said.
He added: “Combined with continued indicators of a slow but steady path to recovery in the housing market, we expect to end the year on a positive note and set the stage for revenue acceleration in 2013."
Move Inc. expects Q412 revenue to range between $51.5 million and $52 million.