Blend Labs Inc reports results for the quarter ended June 30 - Earnings Summary

• Blend Labs Inc BLND.N reported quarterly breakeven results​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of -2 cents. The mean expectation of six analysts for the quarter was for earnings of 2 cents per share. Wall Street expected results to range from zero cents to 2 cents per share.

• Revenue fell 22.1% to $31.52 million from a year ago; analysts expected $31.93 million.

• Blend Labs Inc's reported EPS for the quarter was a loss of 4 cents​.

• The company reported a quarterly loss of $11.02 million.

• Blend Labs Inc shares had risen by 8.5% this quarter and lost 15.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 7.4% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the software peer group is also "buy"

• Wall Street's median 12-month price target for Blend Labs Inc is $4.90, about 27.1% above its last closing price of $3.57

This summary was machine generated from LSEG data August 8 at 04:05 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)