Redfin: 3Q Earnings Snapshot
SEATTLE (AP) _ Redfin Corp. (RDFN) on Thursday reported third-quarter net income of $3.5 million, after reporting a loss in the same period a year earlier.
The Seattle-based company said it had net income of 4 cents per share.
The results beat Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 2 cents per share.
The real estate broker posted revenue of $140.3 million in the period, also beating Street forecasts. Six analysts surveyed by Zacks expected $139 million.
For the current quarter ending in December, Redfin said it expects revenue in the range of $115.1 million to $118.3 million.
Redfin shares have dropped 53 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.85, a decrease of 32 percent in the last 12 months.