Why Are Compass (COMP) Shares Trading Up Over 45% Today - Compass (NYSE:COMP)

Compass, Inc COMP reported a third-quarter FY22 revenue decline of 14% year-on-year to $1.49 billion, beating the consensus of $1.44 billion.
Gross Transaction Value of $57.3 billion declined from $69.1 billion in 3Q21.
EPS loss of $(0.36) missed the consensus loss of $(0.34).
Compass sees Q4 revenue of $1.15 billion - $1.30 billion, below the consensus of $1.41 billion.
It sees FY22 revenue of $6.05 billion - $6.20 billion (prior view $6.15 billion - $6.45 billion), below the consensus of $6.28 billion.
"Against a backdrop of significant challenges for the housing industry, Compass continued to make progress in a number of important areas during the third quarter," CEO Robert Reffkin said.
Reffkin added, "As we look ahead, we believe the housing market will remain challenged during 2023 before returning to stability and growth in the future."
Price Action: COMP shares traded higher by 45.5% at $3.54 on the last check Friday.
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Why Are Compass Shares Trading Up Over 45% Today