UPDATE: Redfin (RDFN) Reports In-Line Q2 EPS, Beat on Revenues; Offers 3Q Revenue Guidance Above Consensus

Redfin (NASDAQ: RDFN) reported Q2 EPS of $0.06 versus $0.06 reported last year. Revenue for the quarter came in at $104.9 million versus the consensus estimate of $104.78 million.

Business Outlook

The following forward-looking statements reflect Redfin\'s expectations as of September 7, 2017, and are subject to substantial uncertainty.

For the third quarter of 2017 we expect:

• Revenue between $108.5 million and $110.5 million, representing year-over-year growth between 34% and 36% compared to the third quarter of 2016. Redfin Now revenue between $2.6 million and $3.6 million is included in the guidance provided.
• Net income between $10.0 million and $10.8 million, compared with $5.7 million in the third quarter of 2016. This guidance includes approximately $2.8 million of stock-based compensation and $1.7 million of depreciation and amortization. Stock-based compensation was $2.2 million and depreciation and amortization was $1.6 million the third quarter of 2016.

GUIDANCE:

Redfin sees Q3 2017 revenue of $108.5-110.5 million, versus the consensus of $107.05 million.

For earnings history and earnings-related data on Redfin (RDFN) click here.

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