Market Leader's Q1 revenue grows 27 percent

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A day after it entered into an agreement to be acquired by listing site Trulia for $355 million, Market Leader reported first quarter revenue grew by 27 percent from a year ago to $12.9 million. During the first quarter, demand for Market Leader’s software products “drove some of the most robust new sales that the company has seen in many years,” the company said. Market Leader’s net loss grew to $2.8 million for the quarter, up from $2.5 million a year ago, with the increase driven primarily by higher stock-based compensation. Market Leader cancelled its scheduled quarterly earnings conference call, citing yesterday’s announcement of the pending acquisition by Trulia. The company plans to file its quarterly report on Friday. Source: Market Leader.