Industry News

Homestore announces record second quarter

Realtor.com to roll out pay-per-performance program

Homestore Inc., the National Association of Realtors-affiliated company that operates popular home-search Web site Realtor.com, today reported net income of $3.3 million for the second quarter of the year, compared to a net loss of about $4.3 million in the same quarter last year. Total revenue for the second quarter was $63.3 million, a 16 percent increase from $54.3 million in the second quarter of 2004. Net income for the second quarter was $3.3 million, or $0.02 per share, compared to a net loss of $0.03 per share in second-quarter 2004. Revenue for Realtor.com, alone, was up 39 percent over second-quarter 2004, and up 23 percent over the first quarter of this year. "The second-quarter financial results are the strongest Homestore has delivered since we began the turnaround a little over three years ago," said Mike Long, Homestore CEO. "Our past investments in our Realtor.com and Top Producer businesses continue to deliver increasingly positive returns." Long announced during ...

Comments