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Trulia profit misses St expectations as costs jump
February 13, 2014 / 9:51 PM / in 4 years

Trulia profit misses St expectations as costs jump

Feb 13 (Reuters) - Online real estate listing service provider Trulia Inc reported a lower-than-expected quarterly profit as expenses almost tripled, sending its shares down more than 14 percent in extended trading.

The company’s net loss rose to $11.1 million, or 30 cents per share, for the fourth quarter ended Dec. 31, from $1.6 million, or 6 cents per share, a year earlier.

Excluding items, the company earned 3 cents per share.

Revenue more than doubled to $49.7 million from $20.6 million. Trulia’s website, Trulia.com, and mobile applications provide data on home prices, neighborhoods and rentals.

The company’s expenses almost tripled to $60.3 million in the quarter, with sales and marketing expenses more than doubling to $25.6 million.

Analysts on average had expected earnings of 8 cents per share on revenue of $49.6 million, according to Thomson Reuters I/B/E/S.

Rival Zillow Inc reported better-than-expected fourth-quarter revenue and earnings on Wednesday helped by higher subscriptions.

Trulia’s shares closed at $36.43 on the New York Stock Exchange on Thursday. (Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Sriraj Kalluvila)

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