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NEW YORK - Douglas Elliman Inc. (NYSE:DOUG) reported better-than-expected fourth quarter results, with revenue growth and reduced losses compared to the prior year period.
The real estate brokerage firm posted adjusted earnings per share of $0.03 for Q4, beating analyst estimates of a $0.08 loss per share. Revenue came in at $243.3 million, topping expectations of $233.65 million and rising 13.6% YoY from $214.1 million.
Douglas Elliman’s gross transaction value increased to $8.8 billion in Q4, up from $7.9 billion in the same quarter last year. The company reported an average price per transaction of $1.64 million for the quarter.
"I am very proud of our performance in the fourth quarter - we increased revenue and year-over-year gross transaction value, while reducing operating losses," said CEO Michael S. Liebowitz.
The company narrowed its net loss to $6.0 million or $0.07 per share, compared to a loss of $14.8 million or $0.18 per share in Q4 2023. Adjusted EBITDA loss improved to $5.4 million from a $16.7 million loss last year.
For the full year 2024, Douglas Elliman reported revenue of $995.6 million, up from $955.6 million in 2023. The company ended the year with $145.5 million in cash and investments.
Management noted strong momentum continuing into early 2025, with cash receipts in January and February up about 30% from the same period last year.
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