01:36 PM EDT, 05/03/2024 (MT Newswires) -- Opendoor Technologies ( OPEN ) shares were advancing nearly 13% in recent Friday trading following the company's better-than-expected quarterly results.

The company reported a Q1 loss late Thursday of $0.16 per diluted share, unchanged from a year earlier. Analysts polled by Capital IQ expected a per-share loss of $0.21.

Revenue for the quarter that ended March 31 was $1.18 billion, down from $3.12 billion a year earlier. Analysts surveyed by Capital IQ expected $1.09 billion.

Opendoor ( OPEN ) expects Q2 revenue of $1.4 billion to $1.5 billion. Analysts in a Capital IQ poll expect $1.46 billion.

Price: 2.29, Change: +0.26, Percent Change: +12.61