(MENAFN- Baystreet.ca)
Redfin Corp (NASDAQ:RDFN) rose Friday after reporting a fourth-quarter earnings beat.
Redfin reported a loss of $12.2 million in its fourth quarter.
The Seattle-based company said it had a loss of 14 cents per share.
The results exceeded Wall Street expectations. The average estimate of analysts was for a loss of 18 cents per share.
The real estate broker posted revenue of $124.1 million in the period, which also topped Street forecasts. Analysts expected $116.6 million.
For the year, the company reported that its loss narrowed to $42 million, or 49 cents per share. Revenue was reported as $486.9 million.
For the current quarter ending in April, Redfin said it expects revenue in the range of $101.5 million to $105.1 million.
Redfin shares have risen 27% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.33, a decline of 19% in the last 12 months.
Those shares took flight Friday, gaining $1.18, or 6.4%, to $19.51.
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