REA Group releases 3Q17 and nine-month results

Company News

by David Chau

REA Group’s (ASX:REA) results were released by its majority owner, News Corp (ASX:NWS) this morning.  However, REA also released a statement to the ASX with more detail about its performance – including its three and nine-month results for the period ended 31 March 2017.

For its third-quarter results, the company posted a 16% rise in revenue to $156 million, and a 20% gain in EBITDA to $86 million.

Looking at it from a nine-month perspective, REA’s revenue rose by 16% to $493 million, and its EBITDA was up 15% to $286 million.

The company says these results were driven by the strength of its residential business, despite an environment of lower listing volumes and fewer dwelling commencements in Australia.

This morning, REA shares are tracking 0.18% higher at $64.99.

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