Tree.com Inc., a Charlotte, N.C.-based lead aggregator, narrowed its net loss from continuing operations to approximately $273,000 when compared with the $3.3 million loss in 1Q12. In 4Q12, the company had
But when discontinued operations are included, the 1Q13 net loss is $2.7 million, compared with 1Q12 profits of $14.1 million.
In 1Q12, Tree.com still owned LendingTree Loans; the deal to sell it to Discover Financial Services was closed during June. So, the numbers for discontinued operations for that quarter include
The mortgage lead generation business, said company chairman and CEO Doug Lebda, had 29% higher revenue when compared with 1Q12.
“The number of mortgage lenders active on our exchange grew over 27% from 4Q12 and existing lenders are giving us more wallet share, enabling us to sustain unit economics as we continue to scale lead volume,” he said. During the quarter Tree.com launched a reverse mortgage lead aggregation product.
Also, the company just launched a new brand marketing campaign last week, about which Lebda said, “I’m confident this campaign will re-energize our iconic brand and resonate with consumers in the months and years ahead.”
