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Redfin: 1Q Earnings Snapshot

Associated Press
Updated ·1-min read

SEATTLE (AP) _ Redfin Corp. (RDFN) on Thursday reported a loss of $60.1 million in its first quarter.

The Seattle-based company said it had a loss of 64 cents per share.

The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 73 cents per share.

The real estate broker posted revenue of $191 million in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $181.9 million.

For the current quarter ending in July, Redfin said it expects revenue in the range of $179 million to $189 million.

Redfin shares have risen 7% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $22.65, an increase of slightly more than 9% 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