COMP - Why Compass Stock Was Falling Today
Shares of Compass (NYSE: COMP) , one of the nation's largest real estate brokerages, were falling today after the company missed estimates in its fourth-quarter earnings report and offered weak guidance for the current quarter, showing it continues to struggle with contraction in the real estate market.
As of 11:12 a.m. ET, the stock was down 14.8%.
Revenue in the quarter tumbled 31% to $1.11 billion as transactions declined 25% due to industry-wide headwinds as transactions across the residential real estate industry were down 18% for all of 2022. That result missed analyst estimates at $1.19 billion.
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Why Compass Stock Was Falling Today