=Redfin (RDFN) reported earnings on Fri 8 Sept 17 (b/o)

Redfin beats by $0.01, reports revs in-line with prior guidance in IPO prospectus; guides Q3 revs above consensus

• Reports Q2 (Jun) earnings of $0.06 per share, $0.01 better thanthe Capital IQ Consensus of $0.05; revenues rose 35.0% year/year to $104.9 mln inline with guidance provided in its IPO prospectus and the $104.78 mln Capital IQ Consensus.
• Gross margin was 35%, compared to 35% in 2Q16.
• Co accelerated market-share gains, serving 0.64% of U.S. existing home sales by value in 2Q17, an increase of 0.11 percentage points from 2Q16. The year-over-year gain for 1Q17 was 0.10 percentage points.
• Increased visitors to its website and mobile application by 43% over 2Q16 to more than 24 million monthly average visitors, making Redfin the fastest-growing top-10 real estate website.
• Co issues upside guidance for Q3, sees Q3 revs of $108.5-$110.5 mln vs. $107.05 mln Capital IQ Consensus Estimate. Expects Redfin Now revenue between $2.6-$3.6 million is included in the guidance provided. Sees net income of $10.0-$10.8 mln compared to $5.7 mln in year ago period.