Compass Stock Jumps 26% After Anywhere Deal Fuels Profit, Strong Q2 Outlook
Compass Inc. shares surged 26% after posting a first-quarter profit and forecasting second-quarter revenue above Wall Street estimates. Revenue nearly doubled to $2.70 billion, boosted by the Anywhere Real Estate acquisition. The company reported GAAP net income of $22 million, compared to a $51 million loss a year ago. Compass raised its cost-saving targets and said brokerage transaction value reached $97.3 billion.