AP NEWS

Redfin: 3Q Earnings Snapshot

November 6, 2019 GMT

SEATTLE (AP) _ Redfin Corp. (RDFN) on Wednesday reported third-quarter profit of $6.8 million.

The Seattle-based company said it had net income of 7 cents per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.

The real estate broker posted revenue of $238.7 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $230.1 million.

For the current quarter ending in December, Redfin said it expects revenue in the range of $211 million to $220 million.

Redfin shares have climbed 29% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.54, a rise of 13% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RDFN at https://www.zacks.com/ap/RDFN