Marcus & Millichap Posts Loss In Q1 - Quick Facts

(RTTNews) - Marcus & Millichap, Inc. (MMI) reported a first-quarter net loss of $5.8 million, or $0.15 per share, compared to net income of $32.8 million, or $0.81 per share, prior year. The company noted that its earnings were impacted by expensing of previous investments made in growth initiatives, particularly including talent acquisition and retention. Adjusted EBITDA was negative at $7.4 million, compared to adjusted EBITDA of $51.9 million, prior year, primarily as a result of the decrease in operating income.

Total revenue was $154.8 million, a decrease of 51.5% compared to $319.5 million, previous year. The company noted that the record revenue of first quarter 2022 provides for a difficult comparison with the first quarter 2023.

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