By Dow Jones Business News,
July 31, 2014, 05:25:00 PM EDT
Trulia Inc. ( TRLA ) said its second-quarter loss widened as the online real-estate information company's rising costs
outpaced revenue growth.
However, the adjusted loss wasn't as wide as analysts had feared and revenue beat expectations.
The earnings report comes three days after Zillow, the most-trafficked real-estate website, agreed to buy Trulia, the
No. 2 company, hoping to create a market behemoth that will dominate listings of homes for sale and other information
that buyers and sellers covet.
The acceptance of brokers will play a big part in determining whether the combined Zillow and Trulia succeeds.
For the third quarter, Trulia forecast revenue of $68.4 million to $70.4 million. Analysts polled by Thomson Reuters
expected $67 million.
As of June 30, total subscribers rose to roughly 74,000 from 67,000 as of March 31. In the latest quarter, monthly
unique visitors reached 51.6 million, up 48% from a year earlier, while mobile monthly unique visitors soared 92% to 13
Average monthly revenue per subscriber rose 6%.
Trulia reported a loss of $17.9 million, or 48 cents a share, compared with a year-earlier loss of $2.4 million, or
seven cents a share. Excluding stock-based compensation and other items, the adjusted loss widened to 11 cents from five
cents. Analysts expected a loss of 16 cents a share.
Revenue more than doubled to $64.1 million, above company forecasts for $61.5 million to $62.5 million.
Costs and expenses more than doubled to $80 million.
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