Redfin (RDFN) Tops Q4 EPS by 4c, Revenues Beat; Offesrs Q1 Revenue Outlook

Redfin (NASDAQ: RDFN) reported Q4 EPS of ($0.14), $0.04 better than the analyst estimate of ($0.18). Revenue for the quarter came in at $124.1 million versus the consensus estimate of $117.02 million.

“Redfin’s fourth-quarter results again exceeded our expectations, with continued year-over-year gains in market share, and a new report showing that our customer satisfaction is 49% higher than our competitors’,” said Redfin CEO Glenn Kelman. “But what we’re most excited about are the first signs that our broader vision is coming to life in 2019: more Redfin homebuyers are choosing a Redfin mortgage because of an investment in local service, more Redfin home sellers are signing up for our concierge service to spruce up the home before its market debut, and then more of those home sellers are also meeting our agents to buy their next place. RedfinNow, our business of buying a home on our own account and then selling it, is increasingly drawing on our brokerage’s field organization and systems, giving us more confidence that we can grow this business quickly without having to build everything from scratch.”

GUIDANCE:

Redfin sees Q1 2019 revenue of $101.5-105.1 million, versus the consensus of $103.43 million.

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

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