Digital real-estate companies Opendoor Technologies Inc. and Offerpad Solutions Inc. say they are ramping up their home-flipping businesses, reporting new highs for revenue and shrugging off Zillow Group Inc.’s shutdown of its house-flipping outfit this month.
While their businesses have yet to show they can sustain profitability, Opendoor shares rose 18% and Offerpad shares rose 6.2% in after-hours trading Wednesday after they released upbeat quarterly results that beat expectations. Those after-hours gains follow several days of share-price declines.