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E/MAX revenue fell 7.3% in the second quarter, missing the consensus estimate of $74.2 million, but profits and margins exceeded expectations. The company's global agent count reached an all-time high of over 147,000 at the end of June, driven by a 11.5% increase in international growth. However, North American agent count declined 5%, with a 7% drop in U.S. agents.

    CEO Erik Carlson noted that despite a net loss of over 3,700 U.S. agents year-over-year, RE/MAX had its best quarter of U.S. agent count performance in three years. The company's focus remains on delivering an exceptional customer experience amidst the uncertain housing and macroeconomic climate.

    Key numbers from the earnings report include:

    * Revenue: $72.8 million, down 7.3% year-over-year

    * Net income: $4.7 million, up from $3.7 million a year ago

    * Adjusted EBITDA: $26.3 million, down 6.4% compared to a year ago

    * Agent count: Total agent count rose 2.5% year-over-year to 147,073

    RE/MAX also made notable moves in the quarter, including appointing Don Kottick as president of RE/MAX Canada and Daniel Dennis as senior vice president of sales and service in the U.S. The company recently won a court victory against flat-fee brokerage Homie, with a U.S. District court judge dismissing charges of anticompetitive behavior and steering.