Redfin (RDFN) Tops Q2 EPS by 4c; Guides Q3 Revenues Above the Street

Redfin (NASDAQ: RDFN) reported Q2 EPS of ($0.29), $0.04 better than the analyst estimate of ($0.33). Revenue for the quarter came in at $471 million versus the consensus estimate of $455.23 million.

"Even in a rapidly expanding market, Redfin gained more market-share in the second quarter than at any point since our 2017 initial public offering," said Redfin CEO Glenn Kelman. "And we took share where it mattered most: in markets where we offer Redfin Premier services, Redfin listings above a million dollars grew three times faster than listings below a million dollars. Despite increased pricing discipline and record gross margins, RedfinNow bought 40% more homes in the second quarter than we did in all of 2020; our properties revenue grew 139%. And even though this was our first quarter owning RentPath, we already hired a world-class RentPath CEO."

GUIDANCE:

Redfin sees Q3 2021 revenue of $530-541 million, versus the consensus of $487.98 million.

For earnings history and earnings-related data on Redfin (RDFN) click here.

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