Compass (COMP) Registering Booming Business amid Record Quarterly Results

Compass, Inc. (NYSE:COMP) is one of the best low-priced stocks to buy right now. On July 30, the US residential real estate brokerage delivered its best quarterly results in history, characterized by ten all-time highs.

Revenue in the quarter was up 21.1% year over year to $2.06 billion, beating consensus estimates of $2.05 billion. GAAP net income surged 90.3% year over year to a record $39.4 million as adjusted EBITDA increased 63% to $125.9 million. However, adjusted earnings per share came in at $0.07, slightly below analysts’ estimates of $0.08.

“In the second quarter, we also continued to widen the gap against the industry as we grew organic transactions by 6.3% and total transactions by 20.9% compared to market transactions, which declined by 0.9% year-over-year,” said Robert Reffkin, Founder and Chief Executive Officer of Compass.

Compass reinforced its status as one of the largest real estate brokerages in the country, with a 20.9% increase in total transactions year-over-year in the quarter. The company also generated a record operating cash flow of $72.8 million.

Compass, Inc. (NYSE:COMP) provides real estate brokerage services. It operates the Compass Platform, a technology platform that provides an integrated suite of cloud-based software for customer relationship management, marketing, and other functionalities for the real estate industry.

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Disclosure: None. This article is originally published at Insider Monkey.