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.