Redfin (RDFN) Tops Q1 EPS by 23c, Offers Guidance

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Go back to Redfin (RDFN) Tops Q1 EPS by 23c, Offers Guidance

Redfin Reports First Quarter 2022 Financial Results

May 5, 2022 4:01 PM EDT

SEATTLE--(BUSINESS WIRE)-- Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2022.

First Quarter 2022

First quarter revenue was $597.3 million, an increase of 123% compared to the first quarter of 2021. Gross profit was $72.5 million, an increase of 71% year-over-year. Real estate services gross profit was $23.7 million, a decrease of 41% year-over-year, and real estate services gross margin was 13%, compared to 24% in the first quarter of 2021.

Net loss was $90.8 million, compared to a net loss of $35.8 million in the first quarter of 2021. Net loss attributable to common stock was $91.6 million.... More