Redfin (RDFN) Tops Q1 EPS by 4c; Guides Q2 Revenues Above the Street

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Go back to Redfin (RDFN) Tops Q1 EPS by 4c; Guides Q2 Revenues Above the Street

Redfin First-Quarter 2018 Revenue up 33% Year-over-Year to $79.9 Million

May 10, 2018 4:01 PM EDT

SEATTLE, May 10, 2018 (GLOBE NEWSWIRE) -- Redfin Corporation (NASDAQ: RDFN), the technology-powered residential real estate brokerage, today announced financial results for the first quarter ended March 31, 2018. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses.

Revenue increased 33% year-over-year to $79.9 million during the first quarter, including $3.1 million from Redfin Now(1). Gross profit was $5.7 million, a decrease of 11% from $6.4 million in the first quarter of 2017. Gross margin was 7%, compared to 11% in the first quarter of 2017. Real estate gross profit was... More