DENVER (AP) — DENVER (AP) — RE/MAX Holdings Inc. (RMAX) on Thursday reported a loss of $3.4 million in its first quarter.
The Denver-based company said it had a loss of 18 cents per share. Earnings, adjusted for one-time gains and costs, came to 20 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.
The franchisor of residential real estate brokerages posted revenue of $78.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $78.1 million.
For the current quarter ending in June, RE/MAX said it expects revenue in the range of $75 million to $80 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMAX at https://www.zacks.com/ap/RMAX
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