Overview

* Marcus & Millichap ( MMI ) Q2 revenue rises 8.8%, beating analyst expectations

* Net loss of $11 mln due to change in tax methodology

* Adjusted EBITDA beats estimates, reflecting operational resilience

Outlook

* Company expects near-term challenges in real estate market to extend through 2025

* Marcus & Millichap ( MMI ) sees long-term growth opportunities in Private Client Market

* Company cites interest rate uncertainty as a factor influencing investor sentiment

* Marcus & Millichap ( MMI ) anticipates continued volatility in transactional activity

Result Drivers

* PRIVATE CLIENT GROWTH - Revenue from Private Client Market increased by 10.3%, driven by an 11.8% rise in total sales volume, according to CEO Hessam Nadji

* FINANCING FEES - Financing fees surged by 43.5% due to an 86.0% increase in total financing volume, partially offset by a decrease in average fee rate

* LARGER TRANSACTION DECLINE - Middle Market and Larger Transaction Market revenue fell by 6.6% after a period of significant year-over-year growth, creating a tough comparison, per CEO Hessam Nadji

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $172.28 $170.50

Revenue mln mln (1

Analyst)

Q2 Net -$11.04

Income mln

Q2 Beat $1.50 -$8.80

Adjusted mln mln (1

EBITDA Analyst)

Q2 EBIT -$9.04

mln

Q2 $181.32

Operatin mln

g

Expenses

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)