Move Inc. grows revenue by 7 percent in 1Q

Realtor.com operator Move Inc. posted first-quarter revenue of $58 million, up 7 percent from the same period last year, according to its latest earnings report released today.

A 6 percent year-over-year increase in the amount real estate pros paid to advertise with the firm (to $44.8 million) and a 10 percent increase in the amount pros paid to use its software and services (to $13.2 million) fueled the revenue jump.

“Move’s laser focus on providing consumers and real estate professionals with accurate housing information and high-quality experiences is paying off with improved growth and greater public awareness of our value,”¬†said¬†Steve Berkowitz, Move’s CEO, in a statement.

Despite the revenue increase, Move posted a net loss of $5.2 million in the first quarter due, in part, to a 17.2 percent year-over-year jump in sales and marketing expenses associated with the firm’s first-ever national marketing campaign for realtor.com.

Move also reported that Web traffic to realtor.com hit an all-time high in March with 33 million unique visitors. Although that total is more than the 23.8 million unique visitors comScore reported to all the sites in Move’s network captured in March, the two firms calculate unique visitors differently.

ComScore calculates unique visitors only once whether they access a site via a desktop computer, one or more mobile devices or multiple browsers. Move, on the other hand, notes in its earnings report that it tallies unique visitors by device and browsers.

Source: Move Inc.


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