Rightmove : Full-year 2023 results in line and expectations unchanged for 2024
>Underperform rating maintained - Rightmove yesterday held a conference call (Q&A) after its 2023 full-year results which were in line with our expectations. ARPA (average revenue per advertiser) jumped to £ 1,431, or an increase of 9% on 2022, in line with our expectations and driven mainly by strong growth at the ARPA level for New Homes (+21%). We are leaving our expectations for 2024 unchanged following this release. We note that the next few years will be years o...Rightmove operates as an online property portal. Co. provides consumers with a place to search and research U.K. property and by providing its customers a place to reach home hunters. Co.'s segments are: The Agency, which provides resale and lettings property advertising services on Co.'s platforms; and The New Homes, which provides property advertising services to new home developers and housing associations on Co.'s platforms. Co.'s customers are primarily estate agents, lettings agents and new homes developers advertising properties for sale and to rent. Co. also provides software, delivering data, market insight and tools that provides insight, analysis and risk assessment tools.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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