Key moments
- Rightmove reported a 7% increase in revenue, reaching £389.9 million, driven by strategic growth areas.
- Underlying operating profit saw a 4% rise, totaling £9.3 million, despite one-off charges.
- The company’s stock value increased by 3.26%, closing at 664.2 pence in the previous trading session.
Rightmove Reported 7% Surge with £389.9 Million in Revenue
LSE-listed company Rightmove disclosed its 2024 financial results, showcasing a 7% increase in revenue, amounting to £389.9 million. This growth was attributed to strategic expansions in commercial property, mortgage services, and rental offerings. These positive revenue results caused the company’s stock to experience a 3.26% increase, closing at 664.2 pence in the previous trading session. Despite a modest 2% increase in agent numbers, the company effectively increased revenue through enhanced monetization strategies. Underlying operating profit rose by 4%, reaching £9.3 million, demonstrating the company’s ability to drive profitability in varying market conditions.
The company highlighted its commitment to technological advancements, with over 5,000 software releases, features, and enhancements deployed throughout the year, many of which were AI enabled. Rightmove also reported a substantial increase in platform engagement, with 16.4 billion minutes spent on the platform, reflecting a 6% rise. The company maintains a dominant market share, claiming over 70% of vendor instructions and over 80% of lettings instructions generated by property portals in 2024.
Average revenue per advertiser (ARPA) increased by £93 to £1,524 per month, with estate agency ARPA rising by 6% to £1,440 and new homes developers’ ARPA increasing by 9% to £1,987. The company’s premium Optimiser Edge package saw increased adoption, with 31% of independent agents subscribing. Revenue from mortgage services more than doubled to £4.7 million, and its Lead Keys digital rental service saw 500 new sign-ups.
Looking ahead, Rightmove anticipates revenue growth of 8 to 10% in 2025, driven by continued investment in innovation and AI, increased uptake of premium services, and further expansion in core business segments. The company expects ARPA to rise by £95-£105 across estate agencies and new homes developers. Despite this positive outlook, the company faces potential scrutiny from the Competition and Markets Authority (CMA) regarding its charging policies, which could impact future pricing strategies. The company’s market capitalization is £5.12 billion, with an average trading volume of 2,201,340.
TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover 
