Industry NewsTechnology

Welcome Wagon a drag on Move Inc.

Write-downs drive $22.6 million Q3 loss
Published on Nov 6, 2008

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by CareyBot

Move Inc. -- the California-based operator of Realtor.com -- saw third quarter losses grow to $22.6 million after taking a large write-down on Welcome Wagon, a direct mail and online marketer of goods and services targeted at new homeowners.

The company reported quarter-to-quarter growth in its core businesses, Realtor.com, Top Producer and rentals, but third quarter revenue fell 4 percent from a year ago, to $61.2 million.

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