Saturday, February 22, 2020
Feb. 22, 2020

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Redfin posts $7.8 million loss in the fourth quarter

The Columbian

SEATTLE — Redfin Corp. on Wednesday reported a loss of $7.8 million in its fourth quarter.

The Seattle-based company said it had a loss of 8 cents per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.

The real estate broker posted revenue of $233.2 million in the period, which also topped Street forecasts. Six analysts surveyed by Zacks expected $217.1 million.

For the year, the company reported that its loss widened to $80.8 million, or 88 cents per share. Revenue was reported as $779.8 million.

For the current quarter ending in April, Redfin said it expects revenue in the range of $179 million to $188 million.

Redfin shares have increased 21 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.50, a rise of 40 percent in the last 12 months.