Redfin Corporation Reports Q2 2024 Earnings
CEO Glenn Kelman Highlights Company's Resilience Amidst Market Challenges
"I'm Meg Nunnally, Redfin's head of investor relations. Joining me on the call today is Glenn Kelman, our CEO."
SEATTLE, Aug. 6, 2024 – Redfin Corporation (NASDAQ: RDFN) today announced its financial results for the second quarter of 2024.
Key financial highlights include:
- Revenue of $400 million, up 10% year-over-year
- Net income of $50 million, down 20% year-over-year
- Diluted earnings per share of $0.50, down 25% year-over-year
Despite the challenging market conditions, Redfin CEO Glenn Kelman highlighted the company's resilience and continued growth.
"I'm proud of our team's execution during this challenging period," Kelman said. "We continue to see strong demand for our services, and we're well-positioned to navigate the current market environment."
Redfin's stock price slipped 2.3% in after-hours trading following the earnings announcement. However, analysts remain optimistic about the company's long-term prospects.
In conclusion, Redfin's Q2 2024 earnings demonstrate the company's ability to perform amidst challenging market conditions. With its strong revenue growth and continued investment in technology, Redfin is well-positioned to continue its leadership role in the real estate industry.
Comments