Rentals.com Revenue Down 2.8% for Q1 2008
May 12, 2008 – 2:52 pmRentals.com revenue was down 2.8% for Q1 of 2008 compared to Q1 of 2007.
For Primedia, rentals.com parent company, EBITA (Earnings Before Taxes Interest Depreciation and Amortization) was down 9.4% for the 1st quarter of 2008 compared to the first quarter of 2007
Fiscal 2008 Outlook
Apartments – Occupancy rates in the apartment leasing sector in most markets have moved to more normalized levels, increasing the demand for advertising. However, construction levels are expected to remain low, and the Company does not expect significant additional apartment inventory in 2008. Increases in available units contribute to additional growth opportunities. The Company’s current focus is to continue to drive quarter-over-quarter revenue growth and improve site engineering and performance for Rentals.com, while driving traffic through search engine optimization.
4 Responses to “Rentals.com Revenue Down 2.8% for Q1 2008”
That is odd because there traffic appears to be way up from last year.
I wonder if it could have to do with the price increase.
By Dave Dugdale on May 12, 2008
Their overhead has always been pretty high. Given the current economy, this makes the situation worse for their Rentals.com division. I would anticipate some changes to happen.
By RentNice on May 12, 2008
Where is this info from?
By M on May 30, 2008
From Primedia’s 1st Qt 2008 Report:
http://www.businesswire.com/portal/site/google/?ndmViewId=news_view&newsId=20080508005466&newsLang=en
By Dan Daugherty on May 30, 2008