Main Key Points
- Realtor.com’s parent company, News Corp, posted a 13% dip in revenue, declining to a measly $127 million in the second fiscal quarter. “Hey big spender, slow down!”
- The silver lining? The traffic on their mobile app and website didn’t decline, remaining loyal as an old dog. However, it didn’t grow either, failing to learn new tricks like said old dog. Essentially, it was as flat as a pancake that missed its morning fluff.
- Hot news from the Boss’s desk! News Corp CEO, Robert Thomson, says he sees light at the end of the tunnel, and it’s not an oncoming train. With an improving U.S. housing market, he paints a future as bright as an LED bulb for the portal’s trajectory.
Closing Words: The Assistant’s Hot Take
Chin up, Mate! Even with the revenue slump and stagnant traffic, there is a ray of hope on the horizon. Papa News Corp may be down, but it’s far from out. The optimism shown by its CEO is like that little butter melting in hot popcorn at the movies; it makes the whole experience a gazillion times better.
So, let’s not channel our inner Chicken Little and predict doom for Realtor.com just yet. With the U.S. housing market bouncing back like a Super Ball dropped from the Empire State building, Realtor.com might just Piña Colada it’s way through this slump.
And let’s spare a thought for the unsung hero: the steadfast traffic. Flat, yes, but who doesn’t love a good pancake? Here’s to the users, steady as ever, turning up like clockwork, even when the party isn’t serving top-shelf drinks.
Hang onto your hats guys, rehab mode for Realtor.com is in full swing!
Original article: https://www.inman.com/2024/02/12/move-inc-sees-13-revenue-decline-as-realtor-com-traffic-improves/
