With a subscriber base that is growing along with mobile use, the company reported an adjusted net loss of $0.6 million, or $0.02 per share on revenue of $24 million, versus the prior year period’s figures of $3.7 million, or $0.54 cents per share.
The company missed estimates on earnings that had it losing $0.01 per share, but far outpaced revenue expectations of $21.1 million with a 97 percent increase on Q1 of 2012. Furthermore, Trulia increased its revenue guidance for the second quarter to a range of $27.3 million to $27.7 million, versus estimates of $24.5 million.
Trulia reported 31.4 million unique monthly visits during the quarter, up from 20.6 million in the prior year period. Unique visits from mobile more than doubled from 5.1 million in Q1 of 2012 to 11.4 million in Q1 of 2013.
Additionally, the company recorded huge increases in media revenue, total subscribers, average monthly revenue per subscriber, and contributions to user-generated content.
Shares jumped more than 9.3 percent in late trading to $31.77, after closing the regular day at a loss of 1.3 percent, to $29.06.
Trulia’s earnings and especially the increased user activity outlined in the report, come on the same day that February data from the S&P/Case-Schiller composite index that tracks home prices for 20 cities across the United States indicated an increase of 9.3 percent on the prior year. It was the largest annual growth since May of 2006, well before the collapse of the housing bubble.
While home prices are well below their 2006 watermark, all of the index’s 20 cities saw gains on the prior year.
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