Redfin (RDFN - Free Report) reported $218.08 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 54.5%. EPS of -$0.20 for the same period compares to -$0.83 a year ago.
The reported revenue represents a surprise of -0.95% over the Zacks Consensus Estimate of $220.16 million. With the consensus EPS estimate being -$0.21, the EPS surprise was +4.76%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Redfin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Real estate services transactions - Total: 13,338 thousand versus the three-analyst average estimate of 13,357.24 thousand.
- Average number of lead agents: 1,692 versus the three-analyst average estimate of 1,709.
- Real estate services transactions - Partner: 3,186 thousand versus the three-analyst average estimate of 3,241.54 thousand.
- Real estate services revenue per transaction - Aggregate: $9963 thousand versus the three-analyst average estimate of $9888.43 thousand.
- Monthly average visitors: 43,861 thousand versus the two-analyst average estimate of 44,980.2 thousand.
- Real estate services revenue per transaction - Partner: $2684 thousand compared to the $2545.81 thousand average estimate based on two analysts.
- Real estate services transactions - Brokerage: 10,152 thousand versus the two-analyst average estimate of 10,301.44 thousand.
- Real estate services revenue per transaction - Brokerage: $12248 thousand versus $12060.2 thousand estimated by two analysts on average.
- Revenue- Real estate services: $132.89 million versus the five-analyst average estimate of $131.98 million. The reported number represents a year-over-year change of -9.1%.
- Revenue- Rentals: $49.18 million versus $49.43 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +20.1% change.
- Revenue- Mortgage: $26.27 million versus the three-analyst average estimate of $27.70 million.
- Revenue- Other: $9.74 million versus the three-analyst average estimate of $9.48 million. The reported number represents a year-over-year change of +53.6%.
View all Key Company Metrics for Redfin here>>>Shares of Redfin have returned -23.6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Redfin (RDFN - Free Report) reported $218.08 million in revenue for the quarter ended December 2023, representing a year-over-year decline of 54.5%. EPS of -$0.20 for the same period compares to -$0.83 a year ago.
The reported revenue represents a surprise of -0.95% over the Zacks Consensus Estimate of $220.16 million. With the consensus EPS estimate being -$0.21, the EPS surprise was +4.76%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Redfin performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Real estate services transactions - Total: 13,338 thousand versus the three-analyst average estimate of 13,357.24 thousand.
- Average number of lead agents: 1,692 versus the three-analyst average estimate of 1,709.
- Real estate services transactions - Partner: 3,186 thousand versus the three-analyst average estimate of 3,241.54 thousand.
- Real estate services revenue per transaction - Aggregate: $9963 thousand versus the three-analyst average estimate of $9888.43 thousand.
- Monthly average visitors: 43,861 thousand versus the two-analyst average estimate of 44,980.2 thousand.
- Real estate services revenue per transaction - Partner: $2684 thousand compared to the $2545.81 thousand average estimate based on two analysts.
- Real estate services transactions - Brokerage: 10,152 thousand versus the two-analyst average estimate of 10,301.44 thousand.
- Real estate services revenue per transaction - Brokerage: $12248 thousand versus $12060.2 thousand estimated by two analysts on average.
- Revenue- Real estate services: $132.89 million versus the five-analyst average estimate of $131.98 million. The reported number represents a year-over-year change of -9.1%.
- Revenue- Rentals: $49.18 million versus $49.43 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +20.1% change.
- Revenue- Mortgage: $26.27 million versus the three-analyst average estimate of $27.70 million.
- Revenue- Other: $9.74 million versus the three-analyst average estimate of $9.48 million. The reported number represents a year-over-year change of +53.6%.
View all Key Company Metrics for Redfin here>>>Shares of Redfin have returned -23.6% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
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