Redfin Sees Q3 Revenue $265M-$279M Vs $288.21M Est.
Portfolio Pulse from Benzinga Newsdesk
Redfin expects Q3 2023 revenue to be between $265M and $279M, representing a YoY decline of 13% to 9%. The company anticipates a net loss of $21M to $30M, an improvement from the $90M loss in Q3 2022. The guidance includes $25M in marketing expenses, $18M in stock-based compensation, and $17M in depreciation and amortization. Redfin also plans to pay a quarterly dividend of 30,640 shares of common stock to its preferred stockholder.
August 04, 2023 | 2:33 pm
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NEGATIVE IMPACT
Redfin's projected Q3 2023 revenue decline and expected net loss could negatively impact its stock price. However, the anticipated improvement in net loss compared to Q3 2022 and the planned dividend payment may provide some positive sentiment.
The projected decline in revenue and expected net loss indicate potential financial challenges for Redfin, which could negatively impact investor sentiment and the stock price. However, the expected improvement in net loss compared to the same period in the previous year and the planned dividend payment could be seen as positive signs, potentially offsetting some of the negative impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100