Opendoor (OPEN) Soars 21% on Q3 Beat

Opendoor grew its stock prices by 21.49 percent connected Monday to adjacent astatine $7.97 apiece aft beating its gross guidance for the 3rd 4th and updating its fiscal outlook for the 4th quarter.

In an updated report, Opendoor Technologies Inc. (NASDAQ:OPEN) said it incurred revenues of $915 cardinal successful the 3rd 4th of the year, a diminution of 33 percent from the $1.377 cardinal successful the aforesaid play past year, but exceeded its earlier guidance of $800 cardinal to $875 million.

Net loss, connected the different hand, widened by 15 percent to $90 cardinal from $78 cardinal successful the aforesaid comparable period, amid a 37 percent little gross profit.

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Opendoor Technologies Inc. (NASDAQ:OPEN) updated its fiscal outlook, with adjusted nett income expected to interruption adjacent by the extremity of adjacent year.

For the 4th fourth of 2025, Opendoor Technologies Inc. (NASDAQ:OPEN) expects revenues to alteration by 35 percent sequentially owed to debased inventory levels from reduced acquisition volumes successful the 3rd quarter, but acquisition activities are expected to prime up during the existent period.

It besides targets to publication adjusted EBITDA nonaccomplishment of precocious $40 millions to mid $50 millions successful the 4th fourth of the year.

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Disclosure: None. This nonfiction is primitively published at Insider Monkey.