Blend Labs(BLND) ZACKS·2024-11-07 00:26Financial Performance - Blend Labs (BLND) reported break-even quarterly earnings per share, surpassing the Zacks Consensus Estimate of a loss of 0.09 per share a year ago, representing an earnings surprise of 100% [1] - The company posted revenues of 40.59 million year-over-year [2] - Over the last four quarters, Blend Labs has surpassed consensus EPS estimates four times and topped consensus revenue estimates three times [2] Stock Performance - Blend Labs shares have increased approximately 49% since the beginning of the year, outperforming the S&P 500's gain of 21.2% [3] - The sustainability of the stock's immediate price movement will depend on management's commentary during the earnings call [3] Earnings Outlook - The current consensus EPS estimate for the coming quarter is -40.8 million, and -157.5 million for the current fiscal year [7] - The estimate revisions trend for Blend Labs is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market in the near future [6] Industry Context - The Internet - Software industry, to which Blend Labs belongs, is currently in the top 24% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]