All boats rising on tide of Trulia results

Shares in real estate portals hit new highs

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The share prices in online real estate portals Trulia and Zillow soared to new all-time highs today after Trulia reported big jumps in second-quarter revenue and adjusted earnings, and issued bullish guidance for the months ahead. After markets closed Wednesday, Trulia reported that monthly unique visitors to the site during the second quarter were up 49 percent from a year ago, and revenue  grew by 77 percent, to $29.7 million. Trulia said paid subscribers -- agents who depend on the site for leads -- were up 49 percent from a year ago, to 32,123, with average monthly revenue per subscriber for the quarter increasing 31 percent, to $194. Trulia CEO Pete Flint said the company’s proposed acquisition of Market Leader Inc. “will strengthen our position as a leading platform for consumers and professionals, with approximately 50,000 premium subscribers." Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) were $3.4 million, compared with negat...