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….