- Compass, Inc (NYSE:COMP) reported a third-quarter FY22 revenue decline of 14% year-on-year to $1.49 billion, beating the consensus of $1.44 billion.
- Gross Transaction Value of $57.3 billion declined from $69.1 billion in 3Q21.
- EPS loss of $(0.36) missed the consensus loss of $(0.34).
- Compass sees Q4 revenue of $1.15 billion – $1.30 billion, below the consensus of $1.41 billion.
- It sees FY22 revenue of $6.05 billion – $6.20 billion (prior view $6.15 billion – $6.45 billion), below the consensus of $6.28 billion.
- “Against a backdrop of significant challenges for the housing industry, Compass continued to make progress in a number of important areas during the third quarter,” CEO Robert Reffkin said.
- Reffkin added, “As we look ahead, we believe the housing market will remain challenged during 2023 before returning to stability and growth in the future.”
- Price Action: COMP shares traded higher by 45.5% at $3.54 on the last check Friday.
- Photo Via Company
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