Redfin (RDFN) Tops Q3 EPS by 2c; Guides Q4 Revenues Below the Street
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Redfin Third-Quarter 2018 Revenue up 28% Year-over-Year to $140.3 Million
November 8, 2018 4:01 PM ESTSEATTLE, Nov. 08, 2018 (GLOBE NEWSWIRE) -- Redfin Corporation (NASDAQ: RDFN), the technology-powered residential real estate brokerage, today announced financial results for the third quarter ended September 30, 2018. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation as well as depreciation and amortization expenses.
Revenue increased 28% year-over-year to $140.3 million during the third quarter. Gross profit was $42.3 million, an increase of 8% from $39.3 million in the third quarter of 2017. Gross margin was 30%, compared to 36% in the third quarter of 2017. Real estate services(1) gross profit was $43.0 million, an increase of 9% from $39.6... More
