Realogy posts quarterly loss

Realogy posted a $259 million net loss for the first quarter of this year, even after taking steps to cut costs and generating $101 million in commission income. Revenue fell $354 million year-over-year and $144 million of the loss was due to interest payments on the company’s debt. Realogy is the parent company of the Corcoran Group, Sotheby’s International Realty, Coldwell Banker and other companies. Those and other Realogy Franchise Group companies handled 178,233 transactions in the first quarter, down from 209,313 in the same period in 2008.