Redfin Corporation
RDFN
ISIN US75737F1084 / Valor 37406109
Redfin Corporation
UMushroom community rating:
About company
Redfin Corporation is a technology-driven real estate company that offers brokerage, rentals, lending, title insurance, and renovations services to help people find a place to live. They operate the country's leading real estate brokerage site, allowing customers to save on fees while working with top agents. Their services include on-demand home tours for buyers, quick closing through lending and title services, and renovations to maximize selling prices for sellers. Additionally, Redfin's rentals business assists millions in finding rental properties. Since its inception in 2006, Redfin has saved customers over $1.6 billion in commissions, serving over 100 markets in the U.S. and Canada with a workforce of over 4,000 employees.
Summarized from source with an LLMView SourceSector: FinanceLatest Results (14.08.2024):
Revenue Growth
Redfin Corporation reported a revenue of $295.2 million for the second quarter of 2024, marking a 7% increase compared to the same period in 2023. This growth highlights the company's ability to expand its market presence despite challenging conditions in the real estate market.
Gross Profit
For the second quarter of 2024, Redfin Corporation achieved a gross profit of $109.6 million, which represents a 9% year-over-year increase. However, the gross profit from real estate services specifically saw a 4% decline, amounting to $53.7 million.
Net Loss
Redfin Corporation reported a net loss of $27.9 million for the second quarter of 2024, slightly higher than the $27.4 million net loss recorded in the same quarter of the previous year. The net loss per share attributable to common stock, diluted, was $0.23, compared to $0.25 in the second quarter of 2023.
Adjusted EBITDA
Redfin Corporation's adjusted EBITDA for the second quarter of 2024 was flat, improving from an adjusted EBITDA loss of $6.9 million in the second quarter of 2023. This indicates a stabilization in the company's earnings before interest, taxes, depreciation, and amortization.
Business Outlook
Looking ahead to the third quarter of 2024, Redfin Corporation expects total revenue to be between $273 million and $285 million, representing a year-over-year growth of 1% to 6%. The company also anticipates a net loss between $30 million and $22 million, compared to a net loss of $19 million in the third quarter of 2023.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
808 M
Market cap (USD)
482,392
Daily traded volume (Shares)
8.48 / 8.225
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
Dividend (USD)
Dividend yield (p.a.)
Est dividend (USD)
Est dividend yield
P/E ratio
Est P/E ratio
EPS (USD)
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Ratings & reviews
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