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Thursday, May 10, 2018

=Redfin (RDFN) reported earnings on Thur 10 May 2018 (a/h)

Redfin reports EPS in-line, beats on revs; guides Q2 revs in-line 
  • Reports Q1 (Mar) loss of $0.44 per share, in-linewith the Capital IQ Consensus of ($0.44); revenues rose 33.4% year/year to $79.9 mln vs the $77.15 mln Capital IQ Consensus, above its prior guidance of $74.6-$78.4 mln
  • Gross margin was 7%, compared to 11% in the first quarter of 2017.
  • Reached market share of .73% of U.S. existing home sales by value in 1Q18, an increase of .02 percentage points from the fourth quarter of 2017, and an increase of .15 percentage points from 1Q17.
  • Co issues in-line guidancefor Q2, sees Q2 revs of 134.8-139.1 vs. $134.49 mln Capital IQ Consensus Estimate. Redfin Now revenue is expected to be between $5.2 million and $6.2 million is included in the guidance provided. Sees Net income between $(1.0) million and $1.5 million, compared to net income of $4.3 million in the second quarter of 2017.

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