SEATTLE – Redfin Corp. (RDFN) on Thursday reported second-quarter net income of $3.2 million, after reporting a loss in the same period a year earlier.
The Seattle-based company said it had profit of 4 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 1 cent per share.
The real estate broker posted revenue of $142.6 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $137.5 million.
For the current quarter ending in October, Redfin said it expects revenue in the range of $137.1 million to $141.3 million.
Redfin shares have fallen 26 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.29, a decrease of 12 percent in the last 12 months.
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