Rightmove has released a trading update for the first quarter forecasting a profit increase of up to 5% and revenue expected to climb between 8% to 10% this year.

The portal says its underlying operating profit growth is 3% to 5%, and earnings per share growth is at least 5% this year.

“Guidance remains unchanged since our 2025 full-year results,” it says.

Extra features

In February, the portal’s year-end results showed revenue rose 9% to £425.1million, with growth driven primarily by agents and developers upgrading packages, adding extra features and increasing product usage.

There is around 1% membership growth in estate agency and new homes in 2026.

“We expect growth in agency to offset new homes developments, which continue to see subdued build rates,” Rightmove says.

Executed strongly

Johan Svanstrom, Chief Executive of Rightmove (pictured), says: “The Rightmove team has executed strongly to date in 2026, with trading in line with expectations and guidance reaffirmed.

“While we continue to monitor the macro backdrop, we are delivering product-led ARPA growth in our core business, membership has increased since year-end, and revenue growth within our strategic growth areas is on track for the year,” he says.

“Building on our trusted brand and solutions, powerful data and network effects, we are innovating across our platform faster than ever before.”

Legal action

Rightmove’s share price has fallen 24% in the past six months, with a legal action over its fees not helping.

The legal case, which is being led by former Competition and Markets Authority (CMA) panel member Jeremy Newman, hopes to recoup fees on behalf of participating estate agents that could reach £1 billion.

Investor view

Anthony Codling of RBC Capital Markets comments, “Rightmove benefits from being one step removed from the twists, turns and challenges faced by the UK housing market. Mortgage rates may be high and the geopolitical climate uncertain, but our fascination with property remains and when people want to look for, or just at, property they turn to Rightmove.

“Agents know this and are choosing to spend ever more money on Rightmove to entice both buyers and sellers to do business with them rather than their competitors. The strategic growth areas are growing, and stock levels are at 11-year highs. ”

We continue to believe that Rightmove is an AI winner not a loser, using AI along with its insight and understanding of the property market to enhance its products and services to offer agents, housebuilders and homehunters more of what they want.

“We retain our ‘Outperform’ rating on the shares and our Price Target of 765p.”

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