ZipRealty sees modest growth in Q3

Tech-focused brokerage and referral network operator ZipRealty Inc. reported today that third-quarter revenue was up 10 percent from the year before to $21.8 million with a profit of $94,000.

“We achieved strong growth momentum across the customer, agent and new product fronts in the third quarter, and that success drove third-quarter financial results that were above our expectations,” said ZipRealty CEO Lanny Baker in a statement.

The firm’s Powered by Zip network, which added three firms in the third quarter to bring the network total to 19 and has been run by former Microsoft exec Xavier Zang since June, saw revenue jump 72 percent and the number of participating agents jump 101 percent in the third quarter 2013 from a year ago, Baker said.

The number of unique visitors to ZipRealty’s mobile and Web sites were up 11 percent in the third quarter to an average of close to 2.8 million per month from July through September, and the number of agents at its company-owned brokerages grew to 1,692 by third quarter’s end, the firm reported.

ZipRealty expects revenue to be up for the year in 2013 to between $76.5 million and $78.5 million from 2012’s $73.8 million. Source: sec.gov.