Redfin Reported Quarterly Loss and Square Delivers Impressive Earnings
Redfin is a real estate brokerage company that operates in the United States and Canada. They have an online real estate platform that many use to purchase and view homes. They are based in Seattle, Washington, and they have a market cap of $5.452 billion.
Redfin reported earnings on Wednesday after hours, and it was definitely a mixed bag. They reported a loss of 37 cents per share, which missed the expectations by 4 cents. However, Redfin reported a beat on revenue with $268.32 million, which was very positive. With the recent housing boom, Redfin’s market share rose to 1.14% of U.S. existing home sales, so growth is continuing to take place with their innovative strategies.
Redfin closed at $52.43 on Thursday, down 15.68% on the day.
Square is a financial technology company led by Twitter CEO Jack Dorsey. It is a simple payment company, and one of the greatest growth stocks in the current market. They are located in Silicon Valley, and they have a market cap of $101.983 billion.
After the market closed on Wednesday, Square reported some spectacular earnings. Q1 sales rose by 266 percent, with growth in Cash App and their dealings with cryptocurrency. They crushed their revenue expectations, reporting $5.06 billion versus the $3.37 billion expected. With more stimulus checks coming into play, they reported a massive increase in transactions and payment volume. All in all, this was an amazing earnings report that showed how powerful Square is becoming.
Square rose to $229.00 after hours, up 2.25%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.