Shares of Opendoor Technologies Inc (OPEN) slumped 5.59% in the pre-market trading session on Friday, following the release of the company's fourth-quarter 2024 earnings results that missed market expectations.
The online real estate platform reported a wider net loss of $113 million, or $0.16 per share, for the quarter ended December 31, 2024, compared to a loss of $78 million in the same period last year. This disappointing performance came despite a 25% increase in revenue to $1.08 billion, exceeding analyst estimates.
The company attributed the larger loss to the ongoing challenges faced by the housing market, including elevated mortgage rates and low inventory levels, which impacted buyer affordability and transaction volumes. Opendoor also struggled with inventory management, as a significant portion of homes remained on the market for an extended period.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。