Compass, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 02:35 am IST
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Compass, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 1,337.4 million compared to USD 1,493.7 million a year ago. Net loss was USD 39.4 million compared to USD 154.2 million a year ago. Basic loss per share from continuing operations was USD 0.08 compared to USD 0.36 a year ago.
For the nine months, sales was USD 3,788.6 million compared to USD 4,910.8 million a year ago. Net loss was USD 237.6 million compared to USD 443.4 million a year ago. Basic loss per share from continuing operations was USD 0.52 compared to USD 1.04 a year ago.
Compass, Inc. provides an end-to-end platform that empowers its residential real estate agents to deliver service to seller and buyer clients. Its platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services and other critical functionalities, all custom-built for the real estate industry. Its platform also uses proprietary data, analytics, artificial intelligence, and machine learning to simplify workflows of agents and deliver recommendations and outcomes for both agents and their clients. It also provides integrated services, such as title and escrow and mortgage, both of which are available on its platform. Its Glide tools, which include completion of various real estate forms and offer preparation and eSignature and collaboration capabilities, are offered to non-Compass agents and their clients. Its platform also enables agents to locate desirable properties at attractive prices for buyers.