REA Group released its Q3 FY23 Financial Results and Outlook

REA Group Ltd (ASX: REA) announced its results for three months ended 31 March 2023:

• The company's revenue was AU$269 million, as compared to its previous period of AU$278 million (down 3% YoY), 
• Its EBITDA (including share of profit/losses from associates) was AU$136 million as compared to its prior period of AU$155 million (down 13% YoY),
• Free cash flow was AU$83 million in 3QFY23, as compared to its previous period of AU$91 million (down 9% YoY).

Outlook:

Residential Buy yield growth is projected to increase by 10% in FY23, driven by a national average price increase of 6%, Premiere+ contribution, ongoing expansion in depth, and Premiere penetration, somewhat offsetting a sizable unfavourable geographic mix of listings. Buy yield growth is anticipated to reach double digits in FY24, primarily due to an average price rise of 12% for Premiere+, the company's most popular product.

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