Redfin reports EPS in-line, misses on revs; guides Q4 revs in-line
- Reports Q3 (Sep) earnings of $0.12 per share, in-line with the Capital IQ Consensus of $0.12; revenues rose 35.0% year/year to $109.5 mln vs the $110.62 mln Capital IQ Consensus.
- Reports accelerated market-share gains, serving 0.71% of U.S. existing home sales by value in the third quarter of 2017, an increase of 0.14 percentage points from the same period in 2016. The year-over-year gains were 0.11 percentage points for the second quarter of 2017, and 0.10 percentage points for the first quarter.
- Continued to drive strong traffic growth, with visitors to our website and mobile application increasing by 38% over the third quarter of 2016, to more than 24 million monthly average visitors.
- Redfin now revenue was $3.4 mln for the quarter.
- Co issues in-line guidancefor Q4, sees Q4 revs of $89.2-$93.2 vs. $90.09 mln Capital IQ Consensus Estimate. Sees Redfin Now revenue of $2.2-$3.2 mln. Sees net loss between $6.0-$3.9 million, compared to net loss of $5.3 million in the fourth quarter of 2016.
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