Real estate’s second quarter earnings reveal

Real estate’s second quarter earnings season revealed a healthy housing market. Most companies outperformed expectations. Earnings highlights for some of the nation’s largest public real estate companies in the second quarter are as follows: • Compass: shrunk net loss from $84 million to $7.1 million in the same period 2020, grew agent count to over 10,600 agents, and 6.2 percent national market share. • EXp World Holdings: Revenue increased 183 percent to $1 billion in revenue and declared first cash dividend of $0.04 per share. Grew to 58,000 agents, an 87 percent year-over-year jump. • Realogy: Generated revenue of $2.3 billion, $149 million of net income with a 77 percent year-over-year EBITDA increase to $310 million. • Redfin: Nearly doubled first quarter revenue to $471 million, grew national market share by 24 basis points to 1.18 percent. • RE/MAX: $5.2 million of profit on $77.2 million in revenue with North American agent count growing 3 percent to over 85,000 agents. • Zillow Group: Beat analyst expectations on $1.3 billion in revenue, with $10 million in net revenue.