REA Group’s Grip on Property Search Faces a Fresh Test Before May Results
Domain is ratcheting up the pressure on REA Group Ltd, releasing fresh audience figures Friday that show its residential platforms pulled in an average 8 million Australians during the first quarter. The CoStar-owned company also reported a 35% jump in average monthly visits compared with a year ago—a detail likely to catch the eye of investors ahead of REA’s next earnings update. Timing’s a factor here. REA, which owns realestate.com.au, is scheduled to release its March quarter results on May 8. Chief Executive Cameron McIntyre and Chief Financial Officer Andrew Cramer will handle the briefing that morning.