Blend Labs Inc reports results for the quarter ended in June - Earnings Summary

Blend Labs

09/08/2024 07:11

* Blend Labs Inc  BLND.N  reported a quarterly adjusted loss
of 2
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -9
cents.  The mean expectation of five analysts for the quarter
was for a loss of 4 cents per share. Wall Street expected
results to range from -5 cents to -3 cents per share.
    * Revenue fell 5.5% to $40.48 million from a year ago;
analysts
expected $39.01 million. 
    * Blend Labs Inc's reported EPS for the quarter was a loss
of 9
cents​.
    * The company reported a quarterly loss of $23.6 million.
    * Blend Labs Inc shares had risen by 14.0% this quarter and
gained 5.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the software peer
group
is also "hold"

Wall Street's median 12-month price target for Blend Labs Inc is
$3.00 
This summary was machine generated from LSEG data August 9 at
06:11 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.04          -0.02          Beat
 Mar. 31 2024      -0.07          -0.06          Beat
 Dec. 31 2023      -0.09          -0.09          Met
 Sep. 30 2023      -0.09          -0.09          Met