Redfin (RDFN) Q3 2024 Earnings Breakdown
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Description
Key Highlights Financial Performance: Redfin experienced a net loss of $(33.782) million for the quarter, compared to $(18.972) million in the same period last year. Revenue Growth: Total revenue increased by 3.4% year-over-year to $278.015 million. Segment Performance: The Real Estate Services segment remains the primary revenue driver, but faced challenges due to adverse macroeconomic conditions. Rentals revenue showed consistent growth. Debt and Financing: Redfin engaged in several financing activities during the quarter, including securing a term loan facility from Apollo and repurchasing portions of its convertible senior notes. Legal Proceedings: Redfin faces ongoing legal proceedings, including antitrust lawsuits and a lawsuit alleging privacy violations. Risk Factors: The document outlines various risk factors that could adversely affect Redfin's business, including challenging macroeconomic conditions and legal proceedings.
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