Industry News

Cendant earnings climb on real estate strength

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Boosted by a strong quarter in its real estate and travel segments, Cendant on Monday reported record $4.9 billion in fourth-quarter revenues, up from $4.3 billion recorded during the same period the previous year.   Approximately $1.5 billion in fourth-quarter revenue was derived from the company's real estate franchise segment, which includes the Century 21, Coldwell Banker, Coldwell Banker Commercial, ERA and Sotheby's International Realty brand names. That was up from $1.3 billion the prior year.   Net income in the fourth quarter was $357 million, or 34 cents per share, up from $288 million, or 29 cents per share, during the last quarter of 2003. Net income for 2004 was $2.1 billion, or $2.02 per share, up from $1.2 billion in 2003.   Revenue for all of 2004 was $19.8 billion, up from $18 billion in 2003. The real estate segment accounted for $6.2 billion of total 2004 revenue, up from $5.2 billion in 2003. The mortgage services segment accounted for $1...