Redfin Stock Has a Lot to Prove on Thursday
Redfin (NASDAQ: RDFN) is a hit in its brief tenure as a public company. The tech-savvy real estate brokerage is trading 67% above its late July IPO price of $15, and Redfin will get its first big test to justify its buoyancy when it posts quarterly results after Thursday's market close.
There isn't a lot of mystery to the numbers. Redfin posted preliminary results in its prospectus. It expects revenue of $104.5 million to $104.9 million for the three months ending in June, 34% to 35% higher than the $77.7 million it recorded a year earlier. Redfin sees a profit of $3.7 million to $4.3 million, nearly tripling at the midpoint of that range.
Image source: Redfin.
Source: Fool.com
