Marcus & Millichap Q2 revenue down 58.9% to $162.9M, net loss of $8.7M

Marcus & Millichap, Inc.

2023-Q2 EPS reported -$0.37 revenue$317,658,000

Total revenue $162.9M (-58.9% YoY); brokerage commissions $140.3M (-60.4% vs record Q2 2022).
Net loss of $8.7M ($0.23 diluted EPS) vs net income $42.2M ($1.04 EPS) in Q2 2022.
Adjusted EBITDA of -$1.1M vs $62.9M a year ago; cited widened bid/ask spread and restrictive lending.
Declared semi-annual dividend $0.25/share payable Oct 6, 2023; repurchased 1.1M shares for $34.4M in H1.
Investment sales & financing professionals 1,865, down 36 from prior year.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Marcus & Millichap, Inc. reported the second quarter ended June 30, 2023 results: revenue $162.9 million, net income Net loss of $8.7 million, or $0.23 per common share, diluted, EPS $0.23 per common share, diluted.

Period: the second quarter ended June 30, 2023
Revenue: $162.9 million
Net income: Net loss of $8.7 million, or $0.23 per common share, diluted
EPS: $0.23 per common share, diluted
Result: reported results

Exact text from the filing

sales, financing, research and advisory services, today reported its second quarter results. Second Quarter 2023 Highlights Compared to Second Quarter 2022 • Total revenue of $162.9 million decreased 58.9%, a difficult comparable to a record second quarter 2022 where revenue was up 39.0% compared to second quarter 2021 • Brokerage commissions of $140.3 million

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Source: SEC EDGAR

accession 0001578732-23-000025

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