Generated revenue remained flat at $1.1 billion from the same period a year ago while the franchisor improved net losses by 27 percent year over year to a loss of $101 million, according to a Thursday earnings call.
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In a sign of growing market steadiness, mega real estate franchisor Anywhere reported relatively flat revenue in the first quarter of 2024, the company announced Thursday morning.
Generated revenue hit $1.1 billion, about the same year over year, which was largely a result of increases in home sale transactions offset by declines in relocation revenue, the company said.
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Quarterly transaction volume also saw an increase for the first time in two years, with combined closed transaction volume up 2 percent year over year, with units down roughly 4 percent and price up 7 percent.
Losses also improved, with a net loss of $101 million compared to $138 million the previous year, and adjusted net loss of $88 million, compared to $106 million the same time the year before.
Ryan Schneider | Anywhere
“Anywhere continued to demonstrate powerful leadership in the face of a challenging housing market and industry landscape, and our results in the quarter reinforce our ability to execute with discipline and focus while propelling our strategy forward,” Anywhere President and CEO Ryan Schneider said in a statement. “I appreciate how our great Anywhere affiliated agents, franchisees, and employees continue to deliver meaningful value to help consumers navigate the market as, together, we empower everyone’s next move.”
Operating earnings before interest taxes depreciation and amortization (EBITDA) saw a significant improvement from the previous year, at a loss of $17 million, compared to a loss of $35 million the…