Strong demand and exceeding expectations drive growth
- Rightmove raises revenue guidance for 2023
- Robust demand and better-than-expected revenue growth
- Average revenue per advertiser expected to be higher than previous guidance
- Revenue growth and underlying operating profit remain unchanged
- Higher-than-expected average revenue per advertiser driven by new homes developers
- 2028 revenue target of over GBP600 million and underlying operating profit ahead of GBP420 million
Rightmove Plc has announced that it is raising its revenue guidance for 2023, citing robust demand and better-than-expected revenue growth. The company now expects average revenue per advertiser to be in the range of 112 pounds to 116 pounds, surpassing previous guidance. While other aspects of the full-year outlook remain unchanged, including revenue growth and underlying operating profit, the increase in guidance is primarily attributed to higher-than-expected average revenue per advertiser, driven by new homes developers. Looking ahead, Rightmove aims to achieve revenue higher than GBP600 million and underlying operating profit ahead of GBP420 million by 2028.
Public Companies: Rightmove Plc (N/A)
Private Companies:
Key People:
Factuality Level: 8
Justification: The article provides specific information about Rightmove raising its revenue guidance for 2023 due to robust demand and better-than-expected revenue growth. It also mentions the specific range for average revenue per advertiser and the unchanged outlook for the full year. The article does not contain any irrelevant or misleading information, sensationalism, redundancy, or opinion masquerading as fact. It does not include any digressions, unnecessary background information, or tangential details. The information provided is specific and focused on the main topic. There is no evidence of misleading information, disinformation, or propaganda. The article is well-researched and accurately reports the news. There is no exaggerated or overly dramatic reporting. The information is not repetitive. There is no bias or personal perspective presented as universally accepted truth. The article does not contain invalid arguments, logical errors, inconsistencies, fallacies, faulty reasoning, false assumptions, or incorrect conclusions. Overall, the article provides factual information about Rightmove’s revenue guidance and is reliable.
Noise Level: 7
Justification: The article provides some information about Rightmove raising its revenue guidance for 2023 due to robust demand and better-than-expected revenue growth. However, it lacks in-depth analysis, evidence, and actionable insights. It also does not explore the consequences of these decisions on those who bear the risks or provide information on systems that can withstand or benefit from shocks and unexpected events. Overall, the article contains some relevant information but lacks depth and rigor.
Financial Relevance: Yes
Financial Markets Impacted: The news article pertains to the financial performance and guidance of Rightmove, a U.K property website. It provides information on the company’s revenue growth and expectations for average revenue per advertiser. This information may be of interest to investors and analysts in the real estate and technology sectors.
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The news article does not describe any extreme event. It focuses on the financial performance and guidance of Rightmove.
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