Move Earnings: Everything You Must Know Now
Move, Inc. (NASDAQ:MOVE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Move, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.09 in the quarter versus EPS of $0.00 in the year-earlier quarter.
Revenue: Rose 13.53% to $54.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Move, Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $53.81 million.
Quoting Management: “We are very pleased that our Q1 results reflect both increasing strength in the real estate market and our team’s efforts to position Move for growth,” said Steve Berkowitz, chief executive officer of Move. “Move is the only company in our space with products and services that satisfy the entire value chain of this real estate business, from content to connection to close.”
Key Stats (on next page)…
Revenue increased 2.77% from $52.74 million in the previous quarter. EPS increased 125% from $0.04 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.07 to a profit $0.03. For the current year, the average estimate has moved down from a profit of $0.37 to a profit of $0.16 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)