Opendoor Announces Fourth Quarter and Full Year 2023 Financial Results
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Opendoor (OPEN) stock falls as guidance disappoints
February 16, 2024 10:20 AM ESTOpendoor (NASDAQ: OPEN) reported a narrower-than-expected loss for the fourth quarter, but shares fell sharply as the company's revenue outlook for the first quarter of 2024 fell short of Wall Street expectations. The digital platform for residential real estate transactions saw its stock drop 6.6% following the announcement, signaling investor concerns over the guidance miss.
For the fourth quarter, Opendoor posted an adjusted loss per share of $0.14, which was $0.10 better than analysts' estimates of a $0.24 loss. Revenue for the quarter was $870 million, surpassing the consensus estimate of $827.6 million. Despite beating the consensus estimates, the company's... More
