Online real estate market Trulia has been a public company for just over a year now, and it’s already seen its share of ups and downs as it dukes it out with competing players like Zillow.
The company just dropped its fiscal Q3 2013 earnings (with additional color on Twitter, as usual) – the combined company posted $40.3 million in revenue for the quarter, along with net income of $7 million which works out to earnings of $0.19 per share.
Wait, combined company? Let’s not forget that Trulia acquired Market Leader earlier this year, and this is the first time that Trulia has included its acquisition’s figures into the fold. And as always, those Wall Street analyst types couldn’t keep themselves from projecting: in the days leading up to the release, the analyst consensus as per Yahoo! Finance was for the company to report $37.9 million in quarterly revenue and earnings of about $0.08 per share.
That looks like a pretty solid beat at first glance, but if you strip out Market Leader’s fiscal contributions you’re left with a total of $33.8 million in revenue generated by Trulia’s core business. Still, when you figure that Trulia’s marketplace place revenue nearly doubled year-over-year and its media revenue was up 56 percent, it’s pretty clear that Trulia is picking up momentum in a big way. Shareholders seem to agree so far, too – at time of publication, Trulia’s stock price is up almost 5.5 percent from today’s closing position.
Considering that Trulia’s entire business model is predicated on getting people to use their site and mobile apps, traffic is always a big concern. We’re seeing some big lifts there too though, as Trulia.com saw 35.3 million uniques this past quarter (up 42 percent from this time last year) while quarterly mobile uniques surged 88 percent year-over-year to 14.5 million.