Trulia Reports Slightly Larger Q1 Loss Than Expected, Revenue Grows 97 Percent To $24M

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Online real estate company Trulia just released its earnings for the first quarter of 2013, reporting that its revenue grew 97 percent year-over-year to $24 million.

Despite the growth, the company still posted a net loss of $2 million. On a non-GAAP basis, it lost 2 cents per share. Analysts had predicted a loss of 1 cent per share with revenue of $21.08 million.

Total traffic has grown too, from 20.6 million unique monthly visitors during this period last year to 31.4 million this year. And it had 11.4 million uniques on mobile. (Trulia has changed the way that it counts mobile traffic, so we can’t offer an apples-to-apples comparison — previously it was just usage of downloaded apps, but now it also includes traffic to the Trulia website from tablets and other devices.) And the number of subscribers has grown 42 percent year-over-year, to 27,920.

In the earnings press release, CEO Pete Flint said:

Trulia achieved an excellent start to 2013. We achieved another quarter of record revenue, driven by strong execution in both our Marketplace and Media businesses. Trulia’s mobile traffic continues to expand at a rapid rate, while our subscriber base grew by approximately 3,500 during the quarter.

trulia earnings

In the past quarter, Trulia also launched a new recommendation engine called Trulia Suggest. Since the launch, Trulia says users have performed 2 million “likes” or “hides” on properties in the company database.

As of 4:45pm Eastern, Trulia is up 6.68 percent in after-hours trading.