Industry NewsTechnology

Move Inc. revenue declining

Company not projecting growth in 2010
Published on Nov 6, 2009

Realtor.com operator Move Inc. said in a regulatory filing Thursday that third-quarter revenue fell 15.7 percent from a year ago, and warned of further declines in the final three months of the year.Revenue totaled $52.9 million for the third quarter, down from $61.2 million a year ago, and is projected to total between $47 million and $48 million in the final three months of the year -- a level Move executives expect to stay, on average, next year. Move's management team blamed the decline in revenue on discontinued operations that formerly generated about $10 million a year in revenue, and a 15 percent decline in the number of for-sale listings on Realtor.com in the last year.Move publishes basic listings on Realtor.com, the most popular real estate portal on the Internet, for free. But fewer listings means less revenue for Move because agents and brokerages who purchase "showcase listing enhancements" are charged subscription fees that are based on the size of their market...

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