Industry NewsTechnology

Move trims annual loss to $12.2M operator expects further revenue declines

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Take a deep real estate technology dive, Aug 7, 2017 operator Move Inc. said cost-cutting measures helped the company trim its net loss to $12.2 million last year, despite a 12.4 percent decline in revenue.Move -- which posted a $34.3 million net loss in 2008 -- said it expects revenue will continue to slide, from $242 million in 2008 and $212 million last year to between $186 million and $192 million this year.In reporting results for the final three months of 2009, Move said $3.9 million in expenses incurred to settle litigation contributed to a $4.5 million loss for the quarter.In a conference call with investors, CEO Steve Berkowitz said the company is bringing out new products that will help it take advantage of's status as the most visited real estate Web site.In 2009, Move launched several new products for real estate professionals, including Search Assist, Facebook widgets, Ask a Realtor, and Realtor blogs.In January, the iPhone applications was downloaded 300,000 times in 50 days, a record in ...