AP NEWS
Click to copy
Click to copy

Redfin: 2Q Earnings Snapshot

August 1, 2019

SEATTLE (AP) _ Redfin Corp. (RDFN) on Thursday reported a second-quarter loss of $12.6 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Seattle-based company said it had a loss of 14 cents.

The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for a loss of 15 cents per share.

The real estate broker posted revenue of $197.8 million in the period, which also beat Street forecasts. Nine analysts surveyed by Zacks expected $190.4 million.

For the current quarter ending in October, Redfin said it expects revenue in the range of $223 million to $233 million.

Redfin shares have climbed 23% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $17.72, a decline of 28% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RDFN at https://www.zacks.com/ap/RDFN

All contents © copyright 2019 The Associated Press. All rights reserved.