Zillow extreme overvalued - Local Corp extreme undervalued - only stupid idiots don't change: Zillow has same revenues like Local Corp, but 70-fold market-cap – a joke
Income Statement of Local Corp (Market Cap = 46 million):
• Sequential revenue growth up 6% to $22.7 million in Q2 from $21.5 million in Q1
• Adjusted EBITDA up 72% to $1.2M in Q2 from $685K in Q1
That are on a yearly base only 0.45-times-revenues of Local Corp.
Zillow has same revenues like Local Corp, but 70-fold market-cap
Income Statement Get Income Statement for Zillow (Market-Cap = 3,210 million):
Quarterly Data All numbers in thousands
Period Ending Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012
Total Revenue 22,365 21,755 20,898 25,841
Zillow reported 2Q13 revenue of $46.92 million versus $27.76 million in 2Q12. Its sales and marketing expense in 2Q13 was $32.92 million versus $12.15 million in 2Q12. So, the company's revenue increased 69% while sales and marketing expense soared 178%.