Why is the REA share price crashing 18% today?
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REA Group Ltd (ASX: REA) shares are on the slide on Friday morning.
At the time of writing, the ASX 200 stock is down 18% to 18% to $150.01.
This follows the release of the realestate.com.au operator’s half-year results before the market open.
ASX 200 stock crash on results day
For the six months ended 31 December, REA Group reported a 5% increase in revenue to $916 million. This reflects an 8% increase in Australian revenue and a 31% decline in international revenue.
On a like-for-like basis, which removes acquisitions and divestments from the equation, revenue was up 8% on the prior corresponding period, with Australian revenue up 8% and flat international revenue.
Management notes that Australian…
