Marcus & Millichap Inc. (MMI) recently reported an increased loss in its first quarter compared to the previous year, yet still managed to surpass Wall Street predictions. The company recorded earnings of -$9.99 million, indicating a loss of -$0.26 per share. This is a notable increase from last year's first quarter loss of -$5.83 million or -$0.15 per share.
The average analyst expectation was for the company to report a loss of -$0.28 per share, according to data gathered by Thomson Reuters. It should be noted that analysts' estimates often exclude unique items.
In terms of revenue, the company experienced a decrease of 16.6% in the quarter, falling to $129.10 million from $154.79 million compared to the same period last year.
Here's a glance at the earnings of Marcus & Millichap Inc. according to the GAAP:
- First quarter earnings: -$9.99 million compared to last year's -$5.83 million.
- Earnings per share for the first quarter: -$0.26 compared to -$0.15 from the previous year.
- First quarter revenue: $129.10 million, a decrease from last year's $154.79 million.
