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Compared to Estimates, Redfin (RDFN) Q1 Earnings: A Look at Key Metrics
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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.
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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Compared to Estimates, Redfin (RDFN) Q1 Earnings: A Look at Key Metrics
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.