Industry NewsTechnology

Move Inc. turns profit in Q3

Company expects $198M total revenue in 2010

Realtor.com operator Move, Inc. reported $375,000 in net income during the third quarter -- the first time the company has had a profitable quarter since second-quarter 2009, according to the company's latest earnings report, released Thursday. The company generated $50.3 million in revenue last quarter, down from $52.9 million at the same time last year. Nevertheless, the company had $375,000 in net income applicable to common stockholders in the third quarter. By contrast, the company had a net loss of $758,000 in third quarter 2009 and a net loss of $1.4 million in this year's second quarter.Net income for the second quarter of 2009 -- the last time the company's revenues exceeded its expenses or losses -- was $3.2 million. "In the past year, Move has made significant investments throughout the company to overhaul our technology, streamline our operations, develop an integrated product vision, and foster more solid relationships with our key real estate industry partners...

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