  We discuss a balanced homodyne detection scheme with imperfect detectors in
the framework of the operational approach to quantum measurement. We show that
a realistic homodyne measurement is described by a family of operational
observables that depends on the experimental setup, rather than a single field
quadrature operator. We find an explicit form of this family, which fully
characterizes the experimental device and is independent of a specific state of
the measured system. We also derive operational homodyne observables for the
setup with a random phase, which has been recently applied in an ultrafast
measurement of the photon statistics of a pulsed diode laser. The operational
formulation directly gives the relation between the detected noise and the
intrinsic quantum fluctuations of the measured field. We demonstrate this on
two examples: the operational uncertainty relation for the field quadratures,
and the homodyne detection of suppressed fluctuations in photon statistics.
