Trulia Earnings Disappoint Investors, Sending TRLA Stock Down Double Digits

It plans to spend millions to increase mobile marketing this year

   

Trulia Earnings Disappoint Investors, Sending TRLA Stock Down Double Digits

On Thursday, Trulia (TRLA) said announced fourth-quarter earnings that fell short of Wall Street expectations. The news sent TRLA stock plunging about 17% in Friday morning trading.

trulia logo 120 Trulia Earnings Disappoint Investors, Sending TRLA Stock Down Double Digits
Source: trulia.com

Trulia stock sank after the online real estate listing service reported a loss of $11.1 million during the December quarter. That was wider than the prior-year’s quarterly loss of $1.6 million. Adjusted EPS came in a 3 cents, which was well below the adjusted profit of 8 cents per share of Trulia stock that analysts had predicted, Reuters noted.

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During the quarter, Trulia generated revenue of $49.7 million, which narrowly topped the $49.6 million that Wall Street was looking for.

Trulia said it expects full-year revenue of between $245 million and $248 million. That was in line with analysts’ estimates of $246.3 million.

During a conference call with analysts, a Trulia executive said the company planned to invest $45 million this year to boost its mobile marketing efforts.

The slide in TRLA stock sent real estate rival Zillow (Z) tumbling more than 6% in Friday morning trading.

Trulia stock closed at $36.43 on Thursday. TRLA stock has risen almost 20% over the past year.


Article printed from InvestorPlace Media, http://investorplace.com/2014/02/trulia-earnings-disappoint-investors-sending-trla-stock-double-digits/.

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