Share “Realogy Holdings 2Q profit drops 19 percent”

Realogy Holdings 2Q profit drops 19 percent

Published on NewsOK Modified: August 4, 2014 at 7:54 am •  Published: August 4, 2014
Advertisement

MADISON, N.J. (AP) — Realogy Holdings Corp. (RLGY) on Monday reported earnings that declined by 19 percent in its second quarter, and beat analysts' expectations.

The Madison, New Jersey-based company said net income dropped to $68 million, or 46 cents per share, from $84 million, or 57 cents per share, in the same quarter a year earlier.

Earnings, adjusted for one-time gains and costs, came to 59 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 55 cents per share.

The company said revenue declined 1.4 percent to $1.51 billion from $1.53 billion in the same quarter a year ago, and topped Wall Street forecasts. Analysts expected $1.5 billion, according to Zacks.

Realogy Holdings shares have dropped $13.37, or 27 percent, to $36.10 since the beginning of the year. The stock has decreased $8.50, or 19 percent, in the last 12 months.

_____

This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full RLGY report: http://www.zacks.com/ap/RLGY

_____

Keywords:Realogy Holdings,Earnings Report