Redfin: 4Q Earnings Snapshot
SEATTLE (AP) _ Redfin Corp. (RDFN) on Thursday reported a loss of $12.2 million in its fourth quarter.
The Seattle-based company said it had a loss of 14 cents per share.
The results exceeded Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The real estate broker posted revenue of $124.1 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $116.6 million.
For the year, the company reported that its loss narrowed to $42 million, or 49 cents per share. Revenue was reported as $486.9 million.
For the current quarter ending in April, Redfin said it expects revenue in the range of $101.5 million to $105.1 million.
Redfin shares have risen 27 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.33, a decline of 19 percent in the last 12 months.