Stock Track | Blend Labs Soars 5% After Beating Earnings Expectations and Achieving Profitability

Stock Track11-07

Blend Labs, Inc. (BLND) experienced a remarkable 5.44% surge in its stock price on November 7, 2024, driven by the company's impressive third-quarter earnings report and the achievement of a significant milestone – its first quarter of non-GAAP operating profitability as a public company.

The financial technology firm, which provides digital lending software solutions, reported strong revenue growth of 11.3% year-over-year, reaching $45.18 million. This outperformed analyst expectations of $41.91 million. Additionally, Blend Labs posted breakeven results on a non-GAAP earnings per share basis, surpassing analyst forecasts of a 2-cent loss.

One of the key highlights contributing to Blend Labs' stock price surge was the company's consumer banking business, which experienced a remarkable 54% year-over-year growth. This segment, which includes products like home equity lending, deposit account opening, and new membership services, has emerged as a significant growth driver for the company.

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(BLND) experienced a remarkable 5.44% surge in its stock price on November 7, 2024, driven by the company's impressive third-quarter earnings report and the achievement of a ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BLND","symbol_name":"Blend Labs, Inc.","start_time":0,"source_url":"","article_id":"1104485736","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1104485736","pubTimestamp":1730991277,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Blend Labs, Inc.  experienced a remarkable 5.44% surge in its stock price on November 7, 2024, driven by the company's impressive third-quarter earnings report and the achievement of a significant milestone – its first quarter of non-GAAP operating profitability as a public company.The financial technology firm, which provides digital lending software solutions, reported strong revenue growth of 11.3% year-over-year, reaching $45.18 million. 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