Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

Real estate media and technology provider Homestore today reported third-quarter earnings of $1.9 million, or 1 cent per share, up from its net loss of $4.6 million for the same period a year ago. Total revenue for the third quarter was $66.3 million, a 21 percent increase from $54.8 million in the third quarter of 2004. Homestore's earnings report came one day after the Westlake Village, Calif.-based company announced that Elevation Partners, a private equity firm, has agreed to invest $100 million in the company in the form of convertible preferred stock. Homestore's shares (Nasdaq:HOMS) climbed 52 cents, or 14.6 percent to $4.08 in midday trading on the investment news Monday. Shares on Tuesday closed at $4.20. "Our third-quarter financial results represent further validation of our ...