Opendoor Technologies reports Q2 EPS (13c), consensus (10c)

Reports Q2 revenue $1.51B, consensus $1.47B. Reports Q2 inventory balance of $2.2B. “We are proud of our second quarter performance and the progress we’ve made in building a platform where all customers can begin their home selling journey. Revenue, Contribution Margin, and Adjusted EBITDA exceeded the high end of our guidance, and our acquisitions outperformed expectations, growing nearly 80% year-over-year. We continue to make meaningful progress increasing brand awareness, delivering industry-leading seller NPS, expanding our product offerings, and driving structural efficiencies across our platform that we expect will benefit the Company for years to come,” said Carrie Wheeler, CEO of Opendoor.