Redfin (RDFN) Misses Q3 EPS by 1c, Revs Miss; Guides Q4 Revs In-LIne
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Redfin Third-Quarter 2017 Revenue up 35% Year-over-Year to $109.5 Million
November 9, 2017 4:00 PM ESTSEATTLE--(BUSINESS WIRE)-- Redfin Corporation (NASDAQ: RDFN), the technology-powered residential real estate brokerage, today announced financial results for the third quarter ended September 30, 2017. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation.
Revenue increased 35% year-over-year to $109.5 million during the third quarter, including $3.4 million from Redfin Now(1). Gross profit was $39.3 million, an increase of 27% from $30.9 million in the third quarter of 2016. Gross margin was 36%, compared to 38% in the third quarter of 2016. Operating expenses were $29.1 million, an increase of 15% from $25.3 million in the third quarter of 2016.... More
