Trulia posts strong Q1 revenue gain

The online real estate site Trulia reported a big gain in first quarter revenue Tuesday, nearly doubling what it reported for last year’s first quarter.

Revenue for the first quarter of this year was $24 million, Trulia said in an earnings report, up from $12.1 million in the first quarter of 2012.

The San Francisco online housing site has been adding mobile and web services and drawing a crowd. Its first quarter traffic of 31.4 million monthly unique visitors is up 52 percent for the year. Trulia said its mobile traffic has increased 122 percent over the year.

“We’re super delighted with a fabulous start to 2013,” said Pete Flint, co-founder and chief executive officer. “It’s really a testament to the products we’re building.”

The largest part of Trulia’s business – recurring revenue associated with listings, subscriptions and long term contracts – was $17.4 million, up 100 percent for the year. Media revenue of $6.6 million gained 91 percent over the year

A  net loss of of $2 million, or 7  cents a share, was down from last year’s first quarter  loss of $4.2 million, or 61 cents a share.

Trulia went public last September priced at $17 a share, jumped to $24 and closed at $22.10 the first day. It closed at $29.06 Tuesday, down 40 cents or 1.36 percent. It was up more than 9 percent at 8 p.m. in after hours trading.





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