Rightmove’s shares slumped Friday after the U.K. property portal said it would ramp up spending on artificial intelligence and trimmed its near-term profit-growth outlook. The company plans to invest £60 million over three years—largely on AI initiatives—calling the technology “absolutely central” to operations, but it now expects operating profit growth of 3% to 5% in 2026, below this year’s roughly 9%. The stock fell as much as 28% intraday before closing down 12.5%. Rightmove aims to lift annual revenue growth to more than 10% by 2030 and forecasts profits will rebound after 2028. Analysts said the market reaction reflects skepticism over heavier AI spending despite potential efficiency and user-experience gains. “There is clearly concern that Rightmove is jumping on the bandwagon,” said Russ Mould of AJ Bell.
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