AOL Inc. (AOL) recently launched a new real estate search experience on AOL Real Estate that is powered by online real estate services provider Move, Inc. (MOVE).
Move, Inc.'s agreement with AOL will provide the former exclusive rights to power the AOL Real Estate homes for sale search experience.
The AOL Real Estate search experience powered by Move will enable users to refine their search by multiple criteria including open houses, new listings and price reductions, along with connecting them directly to real estate agents.
Additionally, real estate professionals can now expand their reach and marketing power when syndicating their listings to AOL via Move's ListHub syndication network through an exclusive advertising program. Move is currently offering real estate advertisers access to millions of AOL Real Estate visitors through a special marketing program featuring the Showcase Listing Enhancement treatment.
Earlier, Move reported revenues of $48.9 million in the second quarter of 2011, up 1.2% year over year. Net income came in at $1.2 million or 1 cent per share compared to a net loss of $1.4 million or 1 cent per share in the year-ago quarter. The reported figure was better than the break-even Zacks Consensus Estimate.
Management believes that as the growing use of market technologies transforms the real estate industry, the company will have the opportunity to lead the industry as it adapts to new technologies that are fundamentally changing how consumers and real estate professionals connect.
Going forward, Move expects revenues to come between $46.5 million and $47 million. Adjusted EBITDA margin is forecasted at around 12%. Move has also updated its guidance for 2011. The company expects revenues between $192 million and $195 million. EBITDA margin is forecasted at around 13% or $25 million.
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