eXp World Holdings Inc. down 6.14% to $12.46 after a shortfall

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eXp World Holdings Inc. (EXPI) said before opening Wednesday it earned $0.03 per share in the third quarter of 2022.

On the revenue line, the company reported $1.2 billion, missing estimates of $61 million.

In the same quarter a year ago, the company earned $0.15 per share on revenue of $1.1 billion.

The stock is down 6.14% at $12.46 after the report.

The higher growth of the company’s revenue compared to profits indicates that the company has not been able to cut costs and has seen its profit margin shrink.

The average recommendation from Wall Street analysts was a buy that could be revised based on this new data.

Trading in the five days leading up to the report earned eXp World Holdings Inc. a bullish sentiment ranking of InvestorsObserver.

eXp World Holdings Inc. has performed slightly below average over the past few months. Prior to the report, eXp World Holdings Inc. received a long-term technical ranking by InvestorsObserver of 36, putting it in the bottom half of the stock. The company was recently trading at a 52-week low of $10.46 on September 23, 2022 and set a 52-week high on November 2, 2021 at $53.5.

eXp World Holdings Inc is a cloud-based residential real estate company. The Company owns and operates a cloud-based real estate brokerage and technology platform company that develops and uses immersive technologies that help businesses increase efficiency and reduce operating costs in office spaces. traditional. Its business categories include real estate brokerage, technology products and services, securities, escrow, settlement services and mortgage brokerage services. The company primarily operates in the United States and Canada, and it also has a presence in the United Kingdom, Australia, South Africa, France, India, Portugal, and Mexico, among others.

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