Opendoor Technologies Q2 Earnings: Revenue Beat, EPS Beat, Weak Guidance Due To 'Additional Slowing In Housing Market'
Portfolio Pulse from Adam Eckert
Opendoor Technologies Inc (NASDAQ:OPEN) reported Q2 earnings with revenue and EPS beating estimates. However, weak guidance for Q3 due to a slowing housing market led to a 14.6% drop in after-hours trading.
August 01, 2024 | 9:51 pm
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Opendoor Technologies reported better-than-expected Q2 revenue and EPS but issued weak Q3 guidance due to a slowing housing market. This led to a 14.6% drop in after-hours trading.
Despite beating Q2 revenue and EPS estimates, Opendoor's weak Q3 guidance and cautious commentary about the housing market have led to a significant drop in its stock price. Investors are likely concerned about the company's future performance in a challenging market environment.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100