Why eXp World Holdings Stock Surged by 11% Today

Next-generation real estate brokerage eXp World Holdings (NASDAQ: EXPI) looked like an investment as safe as houses Friday. On the back of a solid quarterly earnings report, investors eagerly snapped up its shares to boost them to an over 11% gain on the day. With that performance, the stock trounced the S&P 500 (SNPINDEX: ^GSPC), which crawled up only by 0.1%. For its third quarter, eXp managed to increase its revenue by 7% year over year to $1.32 billion. A far more encouraging dynamic was apparent on the bottom line, as the company flipped to a net profit of almost $3.5 million ($0.02 per share) according to generally accepted accounting principles (GAAP), from the year-ago loss of over $8.5 million. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool