90.7 F
San Fernando
Friday, Jun 2, 2023

Homestore Lands in the Black for Second Quarter

Homestore Inc. turned in its largest profit in three years, reporting net income of $3.3 million or $0.02 per share for the second quarter ended June 30. The company’s revenues grew to $63.3 million for the same period, a 16 percent increase over the same period last year. Westlake Village-based Homestore, a provider of online real estate listings and related services, suffered a $4.3 million loss for the second quarter of 2004. Homestore continues to incur legal costs associated with the defense efforts of some of its former officers stemming from charges of improper accounting practices in the past. Company officials said Homestore has paid $11.4 million in legal expenses through the June 30 quarter and will continue to incur expenses in the future.

Featured Articles

Related Articles