Cendant Posts Net Loss, Blaming Spinoff Costs

Cendant Corp. had its first net loss in more than three years in the first quarter because of costs related to a spinoff.

The New York-based travel and real estate services company said its net loss was $82 million, or 8 cents a share, compared with net income of $441 million, or 42 cents, a year earlier. Revenue rose to $3.88 billion from $3.54 billion.

Shares of Cendant, which reported after the market close, rose 20 cents to $19.94 in regular trading on the New York Stock Exchange.