General World News

Compass loses money, explores mortgage

Compass has successfully become a publicly traded company, but the residential brokerage continues to lose money and it has unclear plans to generate more revenue.

In its inaugural earnings call, the eight-year-old, New York City-based brokerage reported Wednesday a net income loss of $212 million in the first quarter of 2021, compared to $133 million in the first quarter of 2020.

The loss is in line with the history of SoftBank-backed Compass, which has swiftly challenged Realogy and Berkshire Hathaway HomeServices of America as the biggest residential brokerage in the country thanks to acquisitions details ⇒

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