Market Updates
Compass Net Loss Soars, Lowers Annual Outlook
Scott Peters
17 Aug, 2022
New York City
Compass Inc declined 12.7% to $3.87 after the real estate broker's quarterly loss expanded and the company lowered it annual revenue estimate.
Second quarter revenues increased 4% to $2.0 billion and net loss soared to $101 million from $7 million a year ago.
Compass guided third quarter revenues between $1.4 billion and $1.5 billion and full-tear 2022 revenues between $6.15 billion and $6.45 billion.
The 2022 revenues estimate was significantly lowered from the previous estimate between $7.6 billion and $8.0 billion released at the time of first quarter results.
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