Blend Labs (BLND) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Blend Labs (BLND) reported revenue of $40.59 million, down 26.7% over the same period last year. EPS came in at -$0.09, compared to -$0.19 in the year-ago quarter.
The reported revenue represents a surprise of +1.45% over the Zacks Consensus Estimate of $40.01 million. With the consensus EPS estimate being -$0.09, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Blend Labs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Title365 Revenue: $11.95 million versus the two-analyst average estimate of $11.51 million. The reported number represents a year-over-year change of -38.1%.
Total Blend Platform Revenue: $28.64 million versus the two-analyst average estimate of $28.51 million. The reported number represents a year-over-year change of -20.6%.
Gross Profit- Title365: $2.03 million versus $2.74 million estimated by two analysts on average.
Gross Profit- Blend Platform: $20.03 million compared to the $20.41 million average estimate based on two analysts.
View all Key Company Metrics for Blend Labs here>>>
Shares of Blend Labs have returned +15.5% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Blend Labs, Inc. (BLND) : Free Stock Analysis Report
