Realtor.com traffic climbs 14%, boosting News Corp revenue

Chief executive says company is pushing for listing dominance in the New York market

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Inman Connect San Francisco, Jul 16-20, 2018

News Corp's digital real estate services, which include Move's realtor.com and Australia-based REA Group, continue to bolster its bottom line, according to its second quarter fiscal year 2018 results, announced today. The global media company reported $2.18 billion in revenue, up 3 percent from $2.12 billion the year prior, and a net loss of $66 million, an improvement over its $212 million loss the year prior. A one-time charge of $174 million due to the new U.S. tax legislation largely contributed to the company's net loss. Its revenue growth was driven largely by the company's accelerating digital real estate services segment, which posted a 21 percent year-over-year increase of $50 million, and a 25 percent EBITDA (earnings before interest, taxes, depreciation and amortization) increase of $24 million. Move revenue increased 18 percent to $110 million, up from $93 million a year ago. Meanwhile, traffic to realtor.com grew 14 percent year-over-year to over 50 million user...