Opendoor Expects Q3 Revenue Of $1.2B - $1.3B, Est $1.59B
Portfolio Pulse from Benzinga Newsdesk
Opendoor Technologies Inc. (OPEN) has released its Q3 revenue guidance, expecting between $1.2 billion and $1.3 billion, which is below the estimated $1.59 billion. The company also provided guidance for its Q3 contribution profit and adjusted EBITDA.
August 01, 2024 | 9:17 pm
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Opendoor Technologies Inc. (OPEN) has provided Q3 revenue guidance of $1.2 billion to $1.3 billion, which is below the estimated $1.59 billion. The company also expects a contribution profit of $35 million to $45 million and an adjusted EBITDA of $(70) million to $(60) million.
The revenue guidance provided by Opendoor is significantly below the market estimate, which is likely to negatively impact investor sentiment and the stock price in the short term. Additionally, the negative adjusted EBITDA guidance further adds to the bearish outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100