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Opendoor's Revenue Dips to $915M Amid Wider Losses, Forecasts Tough Q4 Ahead
Opendoors revenue dropped to $915 million, missing profit expectations, signaling continued challenges as the company forecasts a challenging fourth quarter ahead.
- Opendoor (OPEN) reported a quarterly revenue of $915 million, slightly exceeding Wall Streets expectations of $882 million, but marking the lowest total since Q4 2023.
- The companys loss per share of $0.12 was worse than the anticipated $0.07 loss, reflecting ongoing financial struggles in the competitive housing market.
- For Q4, Opendoor forecasts an adjusted EBITDA loss between $40 million and $50 million, indicating anticipated continued difficulties amid a challenging economic environment.
Por Qué Es Relevante
The significant drop in Opendoors revenue and increased losses highlight the broader challenges facing real estate technology companies in a volatile market, potentially impacting investor confidence and market dynamics.