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RE/MAX: 3Q Earnings Snapshot

DENVER (AP) _ RE/MAX Holdings Inc. (RMAX) on Thursday reported third-quarter net income of $9.2 million.

On a per-share basis, the Denver-based company said it had profit of 51 cents. Earnings, adjusted for one-time gains and costs, came to 61 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The franchisor of residential real estate brokerages posted revenue of $71.5 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $70.6 million.

For the current quarter ending in December, RE/MAX said it expects revenue in the range of $66.5 million to $69.5 million.

The company expects full-year revenue in the range of $280.5 million to $283.5 million.

RE/MAX shares have increased nearly 9% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $33.47, a fall of 10% in the last 12 months.


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