Redfin Corp. (RDFN) PT Lowered to $8 at RBC Capital

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Go back to Redfin Corp. (RDFN) PT Lowered to $8 at RBC Capital

Redfin Reports First Quarter 2024 Financial Results

May 7, 2024 4:00 PM EDT

SEATTLE--(BUSINESS WIRE)-- Redfin Corporation (NASDAQ: RDFN) today announced results for its first quarter ended March 31, 2024.

First Quarter 2024

First quarter revenue was $225.5 million, an increase of 5% compared to the first quarter of 2023. Gross profit was $70.8 million, an increase of 22% year-over-year. Real estate services gross profit was $20.3 million, an increase of 28% year-over-year, and real estate services gross margin was 15%, compared to 12% in the first quarter of 2023.

Net loss was $66.8 million, compared to a net loss of $60.8 million in the first quarter of 2023. Net loss attributable to common stock was $67.0 million.... More

Redfin Reports Low-Income Americans Have Lost the Homebuying Progress They Made During the Pandemic

May 6, 2024 8:00 AM EDT

Roughly 1 in 5 new mortgages went to low-income homebuyers in 2023, down from 23% in 2020. Meanwhile, high-income buyers have gained share because theyre more prepared to weather the storm of high home prices and mortgage rates

SEATTLE--(BUSINESS WIRE)-- (NASDAQ: RDFN) Roughly one in five (20.6%) new mortgages issued last year went to low-income Americans, bringing that groups piece of the homebuying pie back down to where it was in 2018. That is according to a new... More