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Trulia Earnings Disappoint Investors, Sending TRLA Stock Down Double Digits

It plans to spend millions to increase mobile marketing this year

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.

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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.

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,

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