REA Group Q3 Financial Results Overview

REA Group Ltd (ASX: $REA) has reported exceptional performance for the nine months ended 31 March 2024, with a 20% year-on-year revenue growth amounting to $1,060m and a 24% increase in EBITDA excluding associates, reaching $616m. The Q3 specifically saw a 24% revenue growth to $334m, driven by strong Australian Residential and Commercial yield and India revenue growth.

REA Group CEO, Owen Wilson's Commentary on Q3 Performance

REA Group's Chief Executive Officer, Owen Wilson, expressed satisfaction with the company's performance, stating, 'The Australian property market maintained its strong momentum during the quarter with seller confidence and healthy buyer demand driving activity. Australian consumers' preference for our premium products and our focus on customer value delivered an exceptional result in this strong market.'

Summary of Q3 Performance and Outlook

The Q3 financial results reflect REA Group's robust performance driven by strong Australian Residential and Commercial yield, as well as significant revenue growth in India. The company's outlook remains positive, with expectations of continued growth in the Australian residential property market and a focus on delivering new products and experiences to enhance audience value. REA Group anticipates a 5-7% increase in national residential listings for FY24 and targets positive operating jaws with mid to high-teens operating cost growth. Additionally, the company expects lower EBITDA losses in India for FY24 compared to FY23, positioning itself for a strong finish to the financial year.