The market is forward looking. Investors know its turning around so why would you sell now only to buy back again after they have reported better numbers. Its too late by then.
Revenue and EBITDA were down 3.6% and 2.3% in the Dec19 quarter compared to -9% and -14% in the Sep19 quarter.
Clearly momentum has shifted and they. Unfortunately the graph on page 16 of the presentation is quite a poor one by showing relative growth of what i assume is the prior quarters figures. I would much prefer to have seen total listing numbers.
From this same graph though you can residential listing volumes fell off a cliff from q2 2019 so they will now be cycling off some pretty soft comps over the next 12 months.
REA Price at posting:
$111.28 Sentiment: None Disclosure: Held
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