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Redfin (RDFN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended September 2024, Redfin (RDFN - Free Report) reported revenue of $278.02 million, up 3.4% over the same period last year. EPS came in at -$0.28, compared to -$0.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $280.21 million, representing a surprise of -0.78%. The company delivered an EPS surprise of -40.00%, with the consensus EPS estimate being -$0.20.
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: 16.76 million compared to the 17.03 million average estimate based on three analysts.
Average number of lead agents: 1,757 compared to the 1,717 average estimate based on three analysts.
Real estate services transactions - Partner: 3.44 million versus the three-analyst average estimate of 3.67 million.
Real estate services revenue per transaction - Aggregate: $10.45 million versus $10.46 million estimated by three analysts on average.
Monthly average visitors: 49.41 million versus 54.15 million estimated by two analysts on average.
Real estate services revenue per transaction - Partner: $3.03 million compared to the $2.67 million average estimate based on two analysts.
Real estate services transactions - Brokerage: 13.32 million versus the two-analyst average estimate of 13.3 million.
Real estate services revenue per transaction - Brokerage: $12.36 million compared to the $12.61 million average estimate based on two analysts.
Revenue- Real estate services: $175.14 million versus $177.07 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.5% change.
Revenue- Rentals: $51.66 million versus $50.75 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9% change.
Revenue- Mortgage: $35.62 million compared to the $37.67 million average estimate based on three analysts.
Revenue- Other: $15.60 million versus the three-analyst average estimate of $15.75 million. The reported number represents a year-over-year change of +43.5%.
Shares of Redfin have returned +5.1% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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Redfin (RDFN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2024, Redfin (RDFN - Free Report) reported revenue of $278.02 million, up 3.4% over the same period last year. EPS came in at -$0.28, compared to -$0.17 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $280.21 million, representing a surprise of -0.78%. The company delivered an EPS surprise of -40.00%, with the consensus EPS estimate being -$0.20.
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: 16.76 million compared to the 17.03 million average estimate based on three analysts.
- Average number of lead agents: 1,757 compared to the 1,717 average estimate based on three analysts.
- Real estate services transactions - Partner: 3.44 million versus the three-analyst average estimate of 3.67 million.
- Real estate services revenue per transaction - Aggregate: $10.45 million versus $10.46 million estimated by three analysts on average.
- Monthly average visitors: 49.41 million versus 54.15 million estimated by two analysts on average.
- Real estate services revenue per transaction - Partner: $3.03 million compared to the $2.67 million average estimate based on two analysts.
- Real estate services transactions - Brokerage: 13.32 million versus the two-analyst average estimate of 13.3 million.
- Real estate services revenue per transaction - Brokerage: $12.36 million compared to the $12.61 million average estimate based on two analysts.
- Revenue- Real estate services: $175.14 million versus $177.07 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -1.5% change.
- Revenue- Rentals: $51.66 million versus $50.75 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +9% change.
- Revenue- Mortgage: $35.62 million compared to the $37.67 million average estimate based on three analysts.
- Revenue- Other: $15.60 million versus the three-analyst average estimate of $15.75 million. The reported number represents a year-over-year change of +43.5%.
View all Key Company Metrics for Redfin here>>>Shares of Redfin have returned +5.1% over the past month versus the Zacks S&P 500 composite's +3.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.