Realogy posts $259 million Q1 loss

Cost-cutting can't keep pace with revenue decline

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Realogy Corp. posted a $259 million net loss for the first three months of the year, despite cutting $310 million in costs and generating $101 million in additional commission income from new franchise sales.

Much of the loss — $144 million — was attributed to interest payments on the company’s massive debt. But Realogy also saw revenue fall $354 million compared to the same period a year ago, as both home sales and commissions from those sales dropped sharply.