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Redfin Corporation  (RDFN)
    Sector  Services    Industry Real Estate Operations
   Industry Real Estate Operations
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Redfin Corporation Suffers Significant Decline in Performance During Q4 20232.

Financial Challenges Persist for Redfin Corporation Amidst Revenue Plummet


Published Feb 28 2024 / Modified Feb 28 2024
CSIMarket Team / CSIMarket.com


Khozam_By_BandarSar_(Own_work)_[CC-BY-SA-3.0_(http_creativecommons.org_licenses_by-sa_3.0)]_via_Wikimedia_CommonsRedfin Corporation, a technology-powered real estate brokerage, has experienced a decline in shares over the past 30 days.
The shares dropped by -15.98%, bringing the share price to 1.77% in the past 90 days.
Currently, Redfin Corporation shares are trading on the NASDAQ at -23% below its 52-week average.

For the fiscal time-frame ending December 31, 2023, Redfin Corporation reported a loss of $0.19 per share, an improvement from the $0.55 loss per share the previous year.
However, there was a surge in the deficit from $0.17 per share from the prior financial reporting period.
The company experienced a sharp drop in revenue of -77.77% to $106.63 million, compared to $479.66 million in the same period the previous year.
Sequentially, the revenue tumbled by -60.264% from $268.34 million.

In terms of net deficit, Redfin Corporation reported $-22.898 million, a decrease from $-61.946 million in the same period the previous year.
The company's accounts receivable also declined to $51.7 million, which some analysts attribute to slowing demand.
Additionally, Redfin Corporation reported a net loss of $-130.03 million and revenue of $975.82 million for the fiscal year 2023.

Despite these challenges, Redfin Corporation's deficit per share decreased from $-2.99 to $-1.16 in the prior fiscal year.
However, revenue tumbled by -57.28% from $2.28 billion compared to the previous year.

In recent news, Redfin Corporation released a report highlighting the surging value of the U.S.
housing market.
The market has gained an impressive $2.4 trillion over the past year, reaching a total value of $47.5 trillion.
This growth indicates a robust 5.3% increase in value compared to the previous year.

Key Facts:
1.
U.S.
housing market gains $2.4 trillion: Redfin's analysis of over 90 million residential properties in the U.S.
shows substantial growth in housing market value.
2.
Total value reaches $47.5 trillion: The housing market now has an estimated value of $47.5 trillion, demonstrating the industry's positive growth and resilience.

Overall, Redfin Corporation has experienced a decline in shares and faced challenges in terms of revenue and net deficit.
However, the company's report on the surging value of the U.S.
housing market provides hope for the industry's future.



Redfin's Receivables Turnover Ratio

Redfin's ROE



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Redfin Next Unleashes Groundbreaking Agent Compensation Plan, Propelling Real Estate Salesforce into the Future

Investor Home Purchases Show Promising Growth in the Real Estate Market

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Redfin Corporation Faces Significant Revenue Decline in First Quarter of Fiscal Year 2024

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In an effort to revolutionize the real estate industry and provide greater incentives for its agents, Redfin has recently announced the expansion of its Redfin Next agent compensation plan to seven additional markets: Chicago, Connecticut, Dallas, Miami, New York, Palm Beach, and Washington, D.C. This move not only opens up new possibilities for agents in these markets but also enhances Redfin*s...

Redfin Corporation Suffers Significant Decline in Performance During Q4 20232.

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Redfin Corporation Takes a Dive: Top-line Plunges in Recent Fiscal Period

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Other RDFN's news

Housing Market Sees Record High as Median U.S. Home Price Reaches $434,000 in April

U.S. Home Prices Reach Record High Amidst Limited Supply and Stabilizing Investor Activity

U.S. Home Prices Reach Unprecedented Heights Amid Stubborn Housing Shortage

Redfin Next Unleashes Groundbreaking Agent Compensation Plan, Propelling Real Estate Salesforce into the Future

Investor Home Purchases Show Promising Growth in the Real Estate Market

Rising Monthly Payments Impact Spring Housing Market as Rates Continue to Decline

Redfin Corporation Faces Significant Revenue Decline in First Quarter of Fiscal Year 2024

Soaring Homebuyer Down Payments and the Evolving Role of Family Support in the U.S Housing Market

Riding the Property Wave: Soaring Payments vs Surging Supply in The US Housing Market

Rise of the Next Generation Homebuyers: Family Support and Housing Market Resurgence

In an effort to revolutionize the real estate industry and provide greater incentives for its agents, Redfin has recently announced the expansion of its Redfin Next agent compensation plan to seven additional markets: Chicago, Connecticut, Dallas, Miami, New York, Palm Beach, and Washington, D.C. This move not only opens up new possibilities for agents in these markets but also enhances Redfin*s...

Redfin Corporation Suffers Significant Decline in Performance During Q4 20232.

Redfin Corporation Reports Improved Q3 2023 Earnings Per Share Despite Revenue Decline

Extremely demanding reporting period for RDFN in the second quarter of 2023 earnings season

Redfin Corporation Takes a Dive: Top-line Plunges in Recent Fiscal Period

Redfin Corporation reported that Revenues have faded, in the fiscal span ending December 31 2022



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