5 Stocks that Released Solid Quarterly Earnings

In this article, we discuss the 5 stocks that released solid quarterly earnings. If you want to read our detailed analysis of these companies, go directly to the 10 Stocks that Released Solid Quarterly Earnings.

5. Opendoor Technologies Inc. (NASDAQ: OPEN)

Number of Hedge Fund Holders: 33

Shares of Opendoor Technologies Inc. (NASDAQ: OPEN) jumped nearly 20 percent after announcing a narrower than expected quarterly loss. The home-selling platform reported a loss of 24 cents per share for the three months ended June 30, significantly lower than a loss of 66 cents per share in the year-ago quarter.

Revenue came in at $1.2 billion, compared to $739.8 million in the same period last year. Analysts, on average, were expecting Opendoor to report a loss of 34 cents per share on $1.1 billion in revenues. Analysts surveyed by FactSet had forecast a loss of 34 cents a share on revenue of $1.1 billion.

Opendoor sold 3,481 homes in the quarter, translating to a quarter-over-quarter surge of 41 percent. On the buying front, the company acquired 8,494 homes, representing a sequential jump of 136 percent.

The company also released its financial guidance for the third quarter. Opendoor is expecting adjusted EBITDA in the range of $15-$25 million and revenue between $1.8-$1.9 billion for the current quarter.