Home / National News / RE/MAX reports second-quarter profit of $5 million

RE/MAX reports second-quarter profit of $5 million

DENVER (AP) — RE/MAX Holdings Inc. (RMAX) on Thursday reported a second-quarter profit of $5 million, beating Wall Street expectations.

On a per-share basis, the Denver-based company said it had earnings of 40 cents. Earnings, adjusted for non-recurring costs and amortization costs, were 47 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.

The franchisor of residential real estate brokerages posted revenue of $44.3 million in the period.

RE/MAX shares have risen 13 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.61, an increase of 34 percent in the last 12 months.

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