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$OPEN (-13.6% pre) Opendoor Technologies Inc. (OPEN) Reports Q2 Loss, Tops Revenue Estimates https://t.co/9TYyJNQAv5
$OPEN Guidance: "We expect third quarter revenue to be between $1.2 billion and $1.3 billion, contribution profit between $35 million and $45 million, which implies a contribution margin of 2.9% to 3.5%, and adjusted EBITDA loss between $70 million and $60 million." https://t.co/bRmyq215Wg
Opendoor Technologies reports stronger-than-expected Q2 earnings with revenue amounting to $1.511 billion, surpassing estimates of $1.468 billion. The company also incurred a loss of 4 cents per share. $EPS $OPEN $WIIM
Opendoor Technologies Inc. reported stronger-than-expected Q2 earnings with revenue amounting to $1.511 billion, surpassing estimates of $1.468 billion. The company incurred a loss of 4 cents per share. Revenue was down 24% compared to Q2 2023 but up 28% versus Q1 2024. Gross profit for Q2 was $129 million, compared to $149 million in Q2 2023 and $114 million in Q1 2024. The company sold 4,078 homes in Q2, down 24% from Q2 2023 but up 32% from Q1 2024. Opendoor provided Q3 guidance, expecting revenue between $1.2 billion and $1.3 billion, contribution profit between $35 million and $45 million, and an adjusted EBITDA loss between $70 million and $60 million. The company's stock dropped 13.6% in pre-market trading.