Redfin’s third-quarter revenues of $239 million were 70% higher vs. the same period a year ago, while gross profits increased by 26%, exceeding analyst’s estimates. Its stock price shot up in after-hours trading on Wednesday, settling at just below $20.
Glenn Kelman, the CEO of Redfin said in a statement, “These are big strides in our long term goal of redefining real estate in the consumer’s favor.”