Realogy Holdings Corp. Posts Q3 Revenue Miss On Higher Cash Flow

Realogy Holdings Corp. RLGY missed third-quarter revenue expectations Wednesday and said its transaction rate declined. But the Madison, N.J.-based residential real estate brokerage said free cash flow grew 17 percent to $234 million , or $1.60 per share, along with a 1 percent gain in adjusted earnings before interest, taxes, depreciation and amortization. Realogy gained more than 3 percent early Wednesday to $41.85 a share. Net income fell to $100 million, or $0.68 a share, from $109 million, or $0.74 per share, last year. Revenue declined to $1.53 billion, from $1.55 billion a year earlier. Analysts expected profits of $0.65 s share on revenue of $1.52 billion. Home sale transactions at its real estate franchise group fell 3 percent while prices rose 6 percent. Transactions fell 4 percent and prices gained 5 percent at its NRT unit. The company forecast fourth-quarter transactions will increase by 1 percent to 3 percent and a price-gain of the same amount. .