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Why Isn t Redfin s Stock Price Higher Right Now?
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Where Will Redfin Be in 5 Years? | The Motley Fool
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Report: Raleigh, Charlotte, and Durham are the top real estate markets for iBuyers
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Inman Connect
Online brokerage and portal Redfin revealed Wednesday that it brought in $268 million in revenue during the first three months of 2021, notching another quarter in which the company handily beat expectations.
Redfin’s revenues between January and March represent a 40 percent increase compared to the same period in 2020. Heading into Wednesday’s earnings, analysts had expected the company to report $253.68 million in revenue, which would have represented a year-over-year increase of 32.8 percent.
The company also reported a net loss of $36 million, which is down from $60 million in the first quarter of 2020. During the fourth quarter of 2020, Redfin reported a net profit of $14 million.
Inman Connect
Compass revealed massive revenue numbers in its S-1 filing, with yearly revenue topping $3.7 billion in 2020, as well as a massive loss of $270 million.
Despite the existence of several public companies in the residential real estate space, it’s hard to find a direct comparison for Compass given the variety of business models between companies. Most of Compass’ revenue is generated by brokerage commissions.
“We currently generate substantially all of our revenue from commissions paid to us by clients at the time that a home is transacted on our platform,” the filing reads. “In addition, we generate a smaller portion of our revenue from adjacent services that we provide through our platform in connection with a real estate transaction.”