Opendoor beats Q1 estimates with smaller losses and higher sales, shares rise 2%.

Opendoor reported better-than-expected Q1 results, posting a loss of five cents per share versus the anticipated seven cents. Quarterly sales reached $720 million, surpassing estimates by over 8%. The company saw a 45% increase in homes purchased and reduced the percentage of homes on the market over 120 days from 33% to 10%. CEO Kaz Nejatian highlighted that Opendoor is now adjusted EBITDA profitable on a 12-month basis, signaling improved financial health. Following the report, Opendoor's stock rose 2.05% in after-hours trading.