Redfin: 4Q Earnings Snapshot

·1 min read

SEATTLE (AP) _ Redfin Corp. (RDFN) on Wednesday reported fourth-quarter net income of $14 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Seattle-based company said it had profit of 11 cents.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.

The real estate broker posted revenue of $244.5 million in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $233.1 million.

For the year, the company reported that its loss narrowed to $18.5 million, or 23 cents per share. Revenue was reported as $886.1 million.

For the current quarter ending in April, Redfin said it expects revenue in the range of $249 million to $255 million.

Redfin shares have climbed 33% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $91.29, nearly tripling in the last 12 months.


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