Rightmove raised its 2026 guidance for underlying earnings per share growth to at least 7%, from at least 5%, in a trading statement on 6 November. It said consumers who used Ask Rightmove, its conversational AI tool suite, “sent over 3x as many leads” as those who did not.
The same statement says fewer than 1% of its consumer traffic came from large language models. Revenue guidance moved to 6% to 7%, from 6% to 8%. By our arithmetic, the earnings floor rose by 2 percentage points while the midpoint of revenue guidance fell from 7% to 6.5%.
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The key insight: As we read the statement, Rightmove raised its 2026 earnings per share guidance to at least 7% while narrowing revenue guidance to 6% to 7%, and it reports that users of its AI tools sent over 3x as many leads as non-users, while fewer than 1% of its consumer traffic came from large language models.
Rightmove says consumers engaging with any part of Ask Rightmove “have spent over 2x more time on site, saved 3x as many properties and sent over 3x as many leads as those who chose not to use conversational AI”. The suite added a third feature, Comparison Assistant, in October, alongside Search and Evaluation sub-agents. The statement compares users with non-users; it does not say how many consumers used the tools.
For estate agents, call transcription is now live for all Estate Agency partners. Rightmove says “over 2m live calls (the equivalent of 10 years’ worth of conversations) have already been transcribed” since a launch in late Q3, and that its Rightmove Plus AI Assistant “has already been used by 14,000 estate agents”.
Consumers who engaged with Ask Rightmove, the portal’s conversational AI tool suite, against those who did not, in the four months to 31 October 2026, from Rightmove’s trading statement of 6 November. The comparison does not show that the tools caused the difference.
Where the Traffic Comes From
Rightmove says over 85% of its consumer traffic was organic or direct, and fewer than 1% came from large language models (LLMs). It puts its share of consumer time spent on portals at 90% per Comscore and 76% per SimilarWeb/Sensor Tower.
The Guidance
For 2026, Rightmove now expects revenuegrowth of 6% to 7%, within its previous 6% to 8% range, and underlying operating profitgrowth of at least 3%, within its previous 3% to 5%. It cut its forecast for growth in average revenue per advertiser to £100-£110, from £110-£120, which it says “entirely reflects the dynamics in New Homes impacting developer spend”.
For 2027 it expects revenuegrowth similar to 2026, underlying operating profitgrowth of 4% to 7% with a margin of at least 67%, and underlying earnings per share growth of at least 10%. It says it upgraded its productivity target for 2027 and delivered “>60% more releases” than in the comparator period, “supported by agentic tools”.
The Housing Backdrop
The statement describes a weak market. It says the average 5-year fixed-rate mortgage was 5.5% on 31 October, against 5.0% on 30 June, and that following “yesterday’s Bank of England base rate increase”, market pricing implies further base rate rises in 2027. Buyer demand was down 10% and sales agreed 9% lower, it says, and the average house price was 0.3% below a year earlier.
Bloomberg reported that Rightmove and Scout24 “both raised their outlooks, saying AI-powered products are helping them unlock new revenue streams”. We have read Rightmove’s statement but not Scout24’s.
As we read the guidance, the earnings upgrade sits beside a lower revenue midpoint: 6.5% against 7% before, by our arithmetic, and a cut to its forecast for revenue per advertiser growth that Rightmove ties to New Homes.
As we read the AI figures, they measure engagement among users of Ask Rightmove against non-users; the statement gives no revenue from the tools and no count of users.
As we read the traffic line, chatbots are not yet a material route into the portal: Rightmove says over 85% of consumer traffic was organic or direct, and fewer than 1% came from large language models.
Rightmove plc trading statement, 6 November 2026
“We are delivering our fastest-ever pace of productinnovation, with leading solutions for consumers and partners driving increased engagement.”
Three Implications
FOR RIGHTMOVE It now guides to underlying earnings per share growth of at least 7% in 2026 and at least 10% in 2027, the statement says.
FOR ESTATE AGENTS Rightmove says over 2m calls have been transcribed and 14,000 agents have used its AI Assistant.
FOR AI CHAT PLATFORMS Rightmove says fewer than 1% of its consumer traffic came from large language models.
The framework describes “The Container Moat” as “built by closed data loops inside a customer’s environment, nascent but the deepest position in the stack.”
As we read it, Rightmove describes a version of that loop: it says its AI tools run on the intelligence layer it creates with supply and demand data, and that fewer than 1% of its traffic arrives through LLMs. The framework does not discuss Rightmove or property portals.
What Is Not Established
The 2x and 3x figures compare users of Ask Rightmove with non-users, so they do not show that the tools caused the difference; consumers who choose the tools may already be more active. Rightmove does not give revenue from its AI products. We did not read Bloomberg’s article or Scout24’s statement, and we did not contact Rightmove.
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Rightmove raised its 2026 earnings per share guidance to at least 7% and narrowed revenue guidance to 6% to 7%. It reports that users of its AI tools send over 3x as many leads as non-users, and that fewer than 1% of its traffic comes from LLMs.
A note on sourcing. All Rightmove figures, quotations and guidance are from its trading statement of 6 November 2026 (RNS). The Scout24 reference is from Bloomberg’s post on X; we did not read Scout24’s statement. The 2-point and 6.5% figures are our arithmetic. We did not contact Rightmove.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur (for example, How to Digitize a Family Business in Europe) and HackerNoon. Find him on LinkedIn and Substack. See how we source.
