Arrow-right Camera
News >  Business

Redfin: 2Q Earnings Snapshot

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.


Subscribe to the Morning Review newsletter

Get the day’s top headlines delivered to your inbox every morning by subscribing to our newsletter

There was a problem subscribing you to the newsletter. Double check your email and try again, or email webteam@spokesman.com

You have been successfully subscribed!