Earnings

Opendoor Q3 earnings beat estimates

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Eric Wu, founder and chief executive of Opendoor, a start-up company that flips homes, at their San Francisco headquarters, May 18, 2017.

Christie Hemm Klok | The New York Times

A week after Zillow announced its sudden departure from the home-buying market, rival Opendoor reported third-quarter results that topped estimates and issued an optimistic forecast for the rest of the year, sending the stock soaring in extended trading.

Opendoor jumped 16% after hours to $22.48. Prior to the post-market rally, the stock was down 1% for the year.

Revenue in the quarter climbed to $2.27 billion from $338.6 million a year earlier, when the Covid-19 pandemic put a temporary freeze on transactions….



Source cnbc.com

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