REA result as expected

REA Group's result met expectations, but recent acquisition Move is already showing promise.

Online property classifieds company REA Group reported its 2015 results today, and they were pretty much bang in line with the numbers provided in Will REA Group dominate Domain? from 13 Jul 15 (Hold - $40.52). Of most interest was Move, which News Corporation and REA Group acquired last year. Already News is using its muscle to drive traffic to Move's main site www.realtor.com, with REA reporting that realtor.com has already overtaken Trulia to become the number two real estate website in the USA. We'll look forward to more details on Move when News Corporation reports its results tomorrow morning.

With reporting season ramping up - and REA Group still some way from an upgrade - we'll dedicate our attention to other results this week (in particular, News Corporation tomorrow). Our recommendation on REA Group remains HOLD.

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