Real estate technology company Redfin (NASDAQ: RDFN) is expected to be reporting results this Tuesday after the bell. Here’s what you need to know.
Redfin met analysts’ revenue expectations last quarter, reporting revenues of $221 million, down 2% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates. It reported 9,866 brokerage transactions, down 1.7% year on year.
Is Redfin a buy or sell going into earnings? Read our full analysis here, it’s free.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Redfin has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Redfin’s peers in the real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. The Real Brokerage delivered year-on-year revenue growth of 58.7%, beating analysts’ expectations by 12.1%, and Cushman & Wakefield reported revenues up 8.6%, topping estimates by 4.6%. The Real Brokerage traded down 3.8% following the results while Cushman & Wakefield was up 10.9%.
Read our full analysis of The Real Brokerage’s results here and Cushman & Wakefield’s results here.
There has been positive sentiment among investors in the real estate services segment, with share prices up 13.8% on average over the last month. during the same time.
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