REA boosts revenue amid yield growth, easing rate expectations
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The news: Digital real estate platform REA Group has reported higher third-quarter revenue off the back of yield growth and market expectations that interest rates will continue to ease in Australia.
The numbers: The News Corp-controlled digital real estate giant reported a 12% revenue lift to $374 million for the March quarter. Operating earnings before interest, taxes, depreciation and amortisation excluding share of profit and losses from associates was up 12% to $199 million for the quarter.
REA reported an Australian revenue increase of 11% year on year to $340 million, or a 10% lift excluding the acquisition of Realtair, which was consolidated from 1 July 2024, the company said.
What they said: “REA delivered a strong third quarter result underpinned by double-digit yield growth as we continued to drive increased value for customers across our premium products,” REA Group CEO Owen Wilson said in a statement.
“The first interest rate cut in four years, combined with expectations of more to come, spurred buyer demand and supported house price growth across the country.”
The source: ASX announcement
