I get a similar % increase in listings for the December quarter for 2 cities, and the Pakistani Rupee has been pretty stable against our Dollar over the same period. All things being equal, we'd expect a decent bump in revenue.
However revenue does not appear to be perfectly in sync with listings. Based on listing data and exchange rates alone, June 2019 should have been a solid quarter and September 2019 a bad one - as it turned out both were pretty flat in terms of revenue, albeit measured against a stellar March. A few more quarters of data will allow us to determine whether this is due to a lag in timing between listing numbers and revenue, or if listings are simply not a good predictor of revenue.
A poor or mediocre result in December followed by a strong one in March would suggest a lag.
FDV Price at posting:
92.0¢ Sentiment: Hold Disclosure: Held
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