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16.08.2022 18:17:28

Why Compass Stock Was Sliding Today

Shares of Compass (NYSE: COMP), one of the nation's largest real estate brokerages, were falling today after the company missed estimates in its second-quarter earnings report and issued weak guidance for the rest of the year.As of 10:48 a.m. ET, the stock was down 15.1%.In a challenging environment in the residential real estate industry, Compass, which bills itself as a tech-forward real estate disruptor, posted revenue growth of just 4% to $2.02 billion -- just short of estimates at $2.12 billion. Transactions increased 2%, and gross transaction value was flat at $76.8 billion. The company gained 50 basis points in market share over the past year to reach 4.6%.Continue reading
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