Trulia Falls 6% After Reporting Disappointing Q3 Revenue Of $67.1M

Shares of Trulia are down sharply after hours following the company posted in-line losses in its third quarter on disappointing revenue. The company lost $0.08 per share on a non-GAAP basis in the period from revenue of $67.1 million.

Investors had expected the $0.08 per-share loss, which works out to a deficit of $2.8 million, but had expected revenue of $69.96 million. The company missed that by nearly $3 million.

On a GAAP basis, Trulia had a very unprofitable quarter: A $10.8 million charge that the company notes is “related to [its] pending acquisition by Zillow” helped the company lose $24.0 million in the quarter, or a stunning $0.64 million.

GAAP or not, Trulia’s third quarter of 2013 saw the firm lose a more modest $2.2 million, or $0.06. So, revenue was up 67 on a year-over-year basis, but the company isn’t able to convert that higher top-line to material profit.

Here’s the chart:

Zillow, which will acquire Trulia, is also down sharply after-hours, falling more than 5 percent. The two companies are in the middle of a $3.5 billion deal that has yet to close.

from TechCrunch http://feedproxy.google.com/~r/Techcrunch/~3/n5RPJPP6rMU/

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