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Opendoor Technologies First Quarter 2024 Earnings: Beats Expectations

Opendoor Technologies (NASDAQ:OPEN) First Quarter 2024 Results

Key Financial Results

  • Revenue: US$1.18b (down 62% from 1Q 2023).

  • Net loss: US$109.0m (loss widened by 7.9% from 1Q 2023).

  • US$0.16 loss per share (further deteriorated from US$0.16 loss in 1Q 2023).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Opendoor Technologies Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.8%. Earnings per share (EPS) also surpassed analyst estimates by 24%.

Looking ahead, revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Real Estate industry in the US.

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Performance of the American Real Estate industry.

The company's shares are up 3.3% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 2 warning signs for Opendoor Technologies that you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.