Redfin (RDFN) Tops Q2 EPS by 2c

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Go back to Redfin (RDFN) Tops Q2 EPS by 2c

Redfin Second-Quarter 2018 Revenue up 36% Year-over-Year to $142.6 Million

August 9, 2018 4:02 PM EDT

SEATTLE, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Redfin Corporation (NASDAQ: RDFN), the technology-powered residential real estate brokerage, today announced financial results for the second quarter ended June 30, 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 36% year-over-year to $142.6 million during the second quarter. Gross profit was $45.2 million, an increase of 22% from $37.0 million in the second quarter of 2017. Gross margin was 32%, compared to 35% in the second quarter of 2017. Real estate services(1) gross profit was $45.5 million, an increase of 22% from $37.2... More