Loading...
•
Jun 30, 2024
Opendoor Q2 2024 Earnings Report
Reported financial results for the second quarter ended June 30, 2024.
Key Takeaways
Opendoor's Q2 2024 revenue was $1.5 billion, a decrease of 24% compared to Q2 2023, but an increase of 28% compared to Q1 2024. The company sold 4,078 homes, down 24% year-over-year and up 32% quarter-over-quarter. The company reported a net loss of $(92) million, compared to a net income of $23 million in Q2 2023.
Revenue of $1.5 billion, down (24)% versus 2Q23 and up 28% versus 1Q24; with 4,078 total homes sold, down (24)% versus 2Q23 and up 32% versus 1Q24
Gross profit of $129 million, versus $149 million in 2Q23
Net (loss) income of $(92) million, versus $23 million in 2Q23
Purchased 4,771 homes, up 78% versus 2Q23
Forward Guidance
Opendoor provided the following financial outlook for the third quarter of 2024: * 3Q24 revenue guidance of $1.2 billion to $1.3 billion * 3Q24 Contribution Profit guidance of $35 million to $45 million * 3Q24 Adjusted EBITDA guidance of $(70) million to $(60) million
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...