Compass, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 07, 2023 at 04:07 pm EDT
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Compass, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 1,494 million compared to USD 2,020.1 million a year ago. Net loss was USD 47.8 million compared to USD 101.2 million a year ago. Basic loss per share from continuing operations was USD 0.1 compared to USD 0.24 a year ago.
For the six months, sales was USD 2,451.2 million compared to USD 3,417.1 million a year ago. Net loss was USD 198.2 million compared to USD 289.2 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to USD 0.69 a year ago.
Compass, Inc. provides an end-to-end platform that empowers its residential real estate agents to deliver service to seller and buyer clients. Its platform includes an integrated suite of cloud-based software for customer relationship management, marketing, client service, brokerage services and other critical functionalities, all custom-built for the real estate industry. Its platform also uses proprietary data, analytics, artificial intelligence, and machine learning to simplify workflows of agents and deliver recommendations and outcomes for both agents and their clients. It also provides integrated services, such as title and escrow and mortgage, both of which are available on its platform. Its Glide tools, which include completion of various real estate forms and offer preparation and eSignature and collaboration capabilities, are offered to non-Compass agents and their clients. Its platform also enables agents to locate desirable properties at attractive prices for buyers.
COMPASS, INC. 
