HomeStore.com Reports Loss for 3rd Quarter

Online realty service HomeStore.com in Thousand Oaks said it cut its third-quarter losses and beat Wall Street estimates as its subscriber and advertising base widened.

HomeStore reported a net loss for the three months that ended Sept. 30 at 23 cents a share, less than the 28 cents it lost in the same period last year.

The company beat analysts’ expectations of a loss of 24 cents a share.

The results excluded noncash charges such as stock-based compensation and a litigation settlement.

Including those charges, the loss was 52 cents a share, compared with 77 cents a share a year earlier.

The company said last week that it had settled a lawsuit with Cendant Corp. and would issue 250,000 of its shares, worth about $9.4 million, to its online rival.

Revenues rose to $18.6 million from $4.9 million in the year-ago period.

HomeStore’s revenues were fueled by strong subscriber and advertising growth as it expanded its network of Web sites, which now cover existing homes, new homes, remodeling, rentals and relocation.