For the quarter ended March 2024, Redfin (RDFN - Free Report) reported revenue of $225.48 million, down 30.8% over the same period last year. EPS came in at -$0.57, compared to -$0.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $218.03 million, representing a surprise of +3.42%. The company delivered an EPS surprise of +1.72%, with the consensus EPS estimate being -$0.58.
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: 12,730 thousand versus 13,223.24 thousand estimated by three analysts on average.
- Average number of lead agents: 1,658 compared to the 1,645 average estimate based on three analysts.
- Real estate services transactions - Partner: 2,691 thousand versus 3,380.38 thousand estimated by three analysts on average.
- Real estate services revenue per transaction - Aggregate: $10305 thousand compared to the $9760.87 thousand average estimate based on three analysts.
- Monthly average visitors: 48,803 thousand versus the two-analyst average estimate of 51,788.9 thousand.
- Real estate services revenue per transaction - Partner: $2367 thousand compared to the $2644.05 thousand average estimate based on two analysts.
- Revenue- Real estate services: $131.18 million versus the five-analyst average estimate of $128.95 million. The reported number represents a year-over-year change of +3.1%.
- Revenue- Rentals: $49.52 million compared to the $49.54 million average estimate based on five analysts. The reported number represents a change of +15.5% year over year.
- Revenue- Partner revenue: $6.37 million versus the three-analyst average estimate of $9.38 million.
- Revenue- Brokerage revenue: $124.81 million compared to the $119.42 million average estimate based on three analysts.
- Revenue- Other: $10.96 million versus the three-analyst average estimate of $9.82 million. The reported number represents a year-over-year change of +47.6%.
- Revenue- Mortgage: $33.82 million compared to the $30.02 million average estimate based on three analysts.
View all Key Company Metrics for Redfin here>>>Shares of Redfin have returned +4.4% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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For the quarter ended March 2024, Redfin (RDFN - Free Report) reported revenue of $225.48 million, down 30.8% over the same period last year. EPS came in at -$0.57, compared to -$0.93 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $218.03 million, representing a surprise of +3.42%. The company delivered an EPS surprise of +1.72%, with the consensus EPS estimate being -$0.58.
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: 12,730 thousand versus 13,223.24 thousand estimated by three analysts on average.
- Average number of lead agents: 1,658 compared to the 1,645 average estimate based on three analysts.
- Real estate services transactions - Partner: 2,691 thousand versus 3,380.38 thousand estimated by three analysts on average.
- Real estate services revenue per transaction - Aggregate: $10305 thousand compared to the $9760.87 thousand average estimate based on three analysts.
- Monthly average visitors: 48,803 thousand versus the two-analyst average estimate of 51,788.9 thousand.
- Real estate services revenue per transaction - Partner: $2367 thousand compared to the $2644.05 thousand average estimate based on two analysts.
- Revenue- Real estate services: $131.18 million versus the five-analyst average estimate of $128.95 million. The reported number represents a year-over-year change of +3.1%.
- Revenue- Rentals: $49.52 million compared to the $49.54 million average estimate based on five analysts. The reported number represents a change of +15.5% year over year.
- Revenue- Partner revenue: $6.37 million versus the three-analyst average estimate of $9.38 million.
- Revenue- Brokerage revenue: $124.81 million compared to the $119.42 million average estimate based on three analysts.
- Revenue- Other: $10.96 million versus the three-analyst average estimate of $9.82 million. The reported number represents a year-over-year change of +47.6%.
- Revenue- Mortgage: $33.82 million compared to the $30.02 million average estimate based on three analysts.
View all Key Company Metrics for Redfin here>>>Shares of Redfin have returned +4.4% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Where Will Stocks Go…
If Biden Wins? If Trump Wins?
The answers may surprise you.
Since 1950, even after negative midterm years, the market has never had a lower presidential election year. With voters energized and engaged, the market has been almost unrelentingly bullish no matter which party wins!
Now is the time to download Zacks' free Special Report with 5 stocks that offer extreme upside for both Democrats and Republicans…
1. Medical manufacturer has gained +11,000% in the last 15 years.
2. Rental company is absolutely crushing its sector.
3. Energy powerhouse plans to grow its already large dividend by 25%.
4. Aerospace and defense standout just landed a potentially $80 billion contract.
5. Giant Chipmaker is building huge plants in the U.S.
Hurry, Download Special Report FREE >>
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