Redfin Reports First Quarter 2021 Financial Results
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SEATTLE, May 5, 2021 /PRNewswire/ Redfin Corporation (NASDAQ: RDFN) today announced financial results for the first quarter ended March 31, 2021. All financial measures, unless otherwise noted, are presented on a GAAP basis and include stock-based compensation, and depreciation and amortization.
Revenue increased 40% year-over-year to $268 million during the first quarter. Gross profit was $42 million, an increase of 229% from $13 million in the first quarter of 2020. Real estate services gross profit was $40 million, an increase of 168% from $15 million in the first quarter of 2020. Real estate services gross margin was 24%, compared to 14% in the first quarter of 2020. Operating expenses were $77 million, an increase of 9% from $70 million in the first quarter of 2020. Operating expenses were 29% of revenue, down from 37% in the first quarter of 2020.
Redfin expands high-end home-selling service to Seattle - Puget Sound Business Journal bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
www.redfin.com), the technology-powered real estate brokerage, announced it has expanded its
Redfin Premier offering for high-end home sellers into some of the nation s top luxury markets: Lake Tahoe, Los Angeles, Santa Barbara, San Francisco, Seattle and Washington, D.C.
A Redfin Premier home listing.
The brokerage also announced it is enhancing the Redfin Premier service by adding HD video tours for every Premier Home and expanding advertising for Premier Homes on social media and other digital media sites to reach both domestic and international luxury home buyers, including:
The Wall Street Journal, Bloomberg, MarketWatch, Barron s, Mansion Global, and