Intel stock extends gains after report of possible U.S. government stake
SEATTLE - Redfin Corporation (NASDAQ:RDFN) shares fell 6.5% in after-hours trading on Thursday after the real estate brokerage reported fourth quarter earnings that missed estimates and provided weak guidance for the first quarter.
Redfin posted a loss of $0.29 per share in Q4, wider than the $0.24 loss analysts expected. Revenue came in at $244.3 million, slightly above the $241.9 million consensus estimate and up 12% year-over-year.
For Q1 2025, Redfin forecasts revenue between $214 million and $225 million, well below Wall Street’s projection of $243.8 million. The company expects an adjusted EBITDA loss of $32 million to $39 million for the quarter.
"After recording our fourth straight quarter of revenue growth, with profits improving year-over-year in every business segment, we’re headed into 2025 with more demand, and a bigger and better sales force," said Redfin CEO Glenn Kelman.
Redfin’s agent count grew 14% YoY to 1,927 in Q4. The company helped approximately 61,000 customers buy or sell homes in 2024, resulting in a market share of 0.76% of U.S. existing home sales.
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