Blend Labs (BLND Quick QuoteBLND - Free Report) reported $42.82 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 34.7%. EPS of -$0.09 for the same period compares to -$0.19 a year ago.

The reported revenue represents a surprise of +7.08% over the Zacks Consensus Estimate of $39.98 million. With the consensus EPS estimate being -$0.13, the EPS surprise was +30.77%.

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.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Here is how Blend Labs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

• Total Blend Platform Revenue: $30.33 million versus $27.37 million estimated by four analysts on average.
• Blend Platform Revenue- Mortgage Banking: $22.27 million compared to the $19.43 million average estimate based on two analysts.
• Blend Platform Revenue- Consumer Banking and Marketplace: $5.84 million versus the two-analyst average estimate of $6.54 million.
• Gross Profit- Blend Platform: $22.14 million compared to the $16.72 million average estimate based on four analysts.

View all Key Company Metrics for Blend Labs here>>>

Shares of Blend Labs have returned +17.8% over the past month versus the Zacks S&P 500 composite's +2.4% 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.