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Blend Labs (BLND) Reports Q1 Earnings: What Key Metrics Have to Say

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For the quarter ended March 2024, Blend Labs (BLND - Free Report) reported revenue of $34.95 million, down 6.4% over the same period last year. EPS came in at -$0.06, compared to -$0.15 in the year-ago quarter.

The reported revenue represents a surprise of +2.97% over the Zacks Consensus Estimate of $33.94 million. With the consensus EPS estimate being -$0.08, the EPS surprise was +25.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

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

  • Revenue- Title: $11.11 million compared to the $11.01 million average estimate based on two analysts. The reported number represents a change of +17.2% year over year.
  • Revenue- Total Blend Platform: $23.84 million versus the two-analyst average estimate of $22.97 million. The reported number represents a year-over-year change of -14.4%.
  • Gross Profit- Title: $2.10 million versus $1.76 million estimated by two analysts on average.
  • Gross Profit- Blend Platform: $16.04 million versus the two-analyst average estimate of $16.54 million.
View all Key Company Metrics for Blend Labs here>>>

Shares of Blend Labs have returned -17.5% over the past month versus the Zacks S&P 500 composite's -0.2% 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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