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The Real Estate Web Site Realtor.com Earnings

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Real Estate Web Site - Realtor.com operator Move Inc. on Thursday reported a $2.2 million net loss in the second quarter, or 1 cent per share, compared with net income of $4.4 million, or 3 cents per share, in second-quarter 2007. The company has plans to reduce annual operating expenses by $20 million by the end of 2008, according to the report.

Move Inc., which operates home-search site Realtor.com through an agreement with the National Association of Realtors trade group and also operates the Move.com Web site, reported total revenue of $61.4 million in the second quarter, compared with $62.5 million in the same quarter last year.

For the six-month period ended June 30, 2008, Move has reported a $6.86 million loss, which compares to a $4.59 million gain during the same period last year.

Lorna Borenstein, Move Inc. president, said that the company's investment in a redesign of the Realtor.com site has led to "increases in listing page click-throughs, consumers referring listings to friends, agent and broker contacts, and total registrations."

Sales to Realtors of enhanced features and ads at the site "were at all-time highs for June and July," Borenstein also reported.

Mike Long, Move's CEO, said in a statement, "The issues and challenges facing the residential real estate market are creating a permanent dislocation in the offline real estate advertising market with online spending benefiting in the long run."

Hipotecas Prestamos August 8, 2008 11:02 AM