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Redfin (RDFN) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Redfin (RDFN - Free Report) reported revenue of $268.96 million, down 55.2% over the same period last year. EPS came in at -$0.17, compared to -$0.83 in the year-ago quarter.
The reported revenue represents a surprise of -0.04% over the Zacks Consensus Estimate of $269.06 million. With the consensus EPS estimate being -$0.20, the EPS surprise was +15.00%.
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 revenue per transaction - Aggregate: $10200 thousand versus $10285.82 thousand estimated by three analysts on average.
Average number of lead agents: 1,744 versus 1,783 estimated by three analysts on average.
Real estate services transactions - Total: 17,426 thousand compared to the 17,144.24 thousand average estimate based on three analysts.
Monthly average visitors: 51,309 thousand versus the two-analyst average estimate of 53,662.7 thousand.
Real estate services revenue per transaction - Partner: $2677 thousand compared to the $2427.93 thousand average estimate based on two analysts.
Real estate services transactions - Partner: 4,351 thousand compared to the 3,314.12 thousand average estimate based on two analysts.
Real estate services transactions - Brokerage: 13,075 thousand compared to the 14,245.24 thousand average estimate based on two analysts.
Revenue- Rentals: $47.41 million versus $46.78 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22.6% change.
Revenue- Real estate services: $177.75 million versus $176.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -16% change.
Revenue- Partner revenue: $11.65 million versus $8.07 million estimated by two analysts on average.
Revenue- Other: $10.87 million versus the two-analyst average estimate of $12.03 million. The reported number represents a year-over-year change of +53.6%.
Revenue- Brokerage revenue: $166.10 million compared to the $167.66 million average estimate based on two analysts.
Shares of Redfin have returned -30.7% over the past month versus the Zacks S&P 500 composite's -1.1% 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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Redfin (RDFN) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Redfin (RDFN - Free Report) reported revenue of $268.96 million, down 55.2% over the same period last year. EPS came in at -$0.17, compared to -$0.83 in the year-ago quarter.
The reported revenue represents a surprise of -0.04% over the Zacks Consensus Estimate of $269.06 million. With the consensus EPS estimate being -$0.20, the EPS surprise was +15.00%.
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 revenue per transaction - Aggregate: $10200 thousand versus $10285.82 thousand estimated by three analysts on average.
- Average number of lead agents: 1,744 versus 1,783 estimated by three analysts on average.
- Real estate services transactions - Total: 17,426 thousand compared to the 17,144.24 thousand average estimate based on three analysts.
- Monthly average visitors: 51,309 thousand versus the two-analyst average estimate of 53,662.7 thousand.
- Real estate services revenue per transaction - Partner: $2677 thousand compared to the $2427.93 thousand average estimate based on two analysts.
- Real estate services transactions - Partner: 4,351 thousand compared to the 3,314.12 thousand average estimate based on two analysts.
- Real estate services transactions - Brokerage: 13,075 thousand compared to the 14,245.24 thousand average estimate based on two analysts.
- Revenue- Rentals: $47.41 million versus $46.78 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +22.6% change.
- Revenue- Real estate services: $177.75 million versus $176.12 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -16% change.
- Revenue- Partner revenue: $11.65 million versus $8.07 million estimated by two analysts on average.
- Revenue- Other: $10.87 million versus the two-analyst average estimate of $12.03 million. The reported number represents a year-over-year change of +53.6%.
- Revenue- Brokerage revenue: $166.10 million compared to the $167.66 million average estimate based on two analysts.
View all Key Company Metrics for Redfin here>>>Shares of Redfin have returned -30.7% over the past month versus the Zacks S&P 500 composite's -1.1% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.