"The company's chief executive, Johan Svanstrom, said AI was "becoming absolutely central" to the running of the business and its plans for the future. But investors were less enthusiastic, and Rightmove's shares had sunk by more than a quarter at one point on Friday. Rightmove announced plans to invest 60m over the next three years and a large part of this investment will focus on AI."
"The company said it aimed to boost annual revenue growth to more than 10% by 2030. However, it also projected a operating profit growth of 3% to 5% in 2026, which is lower than its forecast of 9% growth this year. Rightmove is planning for its AI investment to pay off in the next three years and said it expects its operating profit to rebound after 2028."
Rightmove will invest 60m over the next three years with a large portion focused on AI-enabled innovations for partners and consumers. The company trimmed its profit growth forecasts for next year to reflect higher AI investment and other changes intended to increase returns. Management aims to lift annual revenue growth to more than 10% by 2030 while projecting operating profit growth of 3%–5% in 2026, below this year's 9% forecast. The company expects AI spending to pay off within three years and forecasts operating profit to rebound after 2028, but investors drove the share price sharply lower.
Read at www.bbc.com
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