Stock Alert: Redfin Up 9% Following Quarterly Results

(RTTNews) - Shares of Redfin Corp. (RDFN) is currently gaining nearly 9% on the Nasdaq. The Seattle-based real estate brokerage on Wednesday evening reported a narrower loss for the fourth quarter on a 88% surge in sales.

RDFN is currently trading at $27.78, up $2.28 or 8.94%, on a volume of 2.3 million shares, above its average volume of about 1 million shares.

Redfin reported a net loss of $7.8 million or $0.08 per share for the quarter, compared with a net loss of $12.2 million or $0.14 per share last year.

Sales surged 88% to $233 million from $124 million a year ago. The company expects first-quarter revenues between $179 million and $188 million. Analysts polled by Thomson Reuters currently expect revenues of $178.25 million.