eXp World Holdings, Inc. (EXPI) stock announced second-quarter 2021 financial results today after which the stock has become bullish. EXPI stock price saw a push of 32.99% to reach $46.45 a share at the time of this writing.  eXp World Holdings, Inc is the cloud base brokerage service provider to residential homeowners and homebuyers.

Second Quarter Financial Results:

According to results of the second quarter ended June 30, 2021

• EXPI stock generated $1 billion in revenue representing a record 183% increase as compared to the same quarter of the previous year.
• The gross profit of $79.9 million in the reported quarter is 133% higher than the same quarter of last year.
• Net income showed 350% improvement to reach $37.0 million as compared to the prior year same quarter. It also includes a $20.6 million income tax provision benefit.
• Diluted earnings per share reached $0.24, 300% higher than the same quarter of last year.
• $27.0 million adjusted EBITDA represents a 98% increase from the same quarter of last year.
• The operating cash flow of the EXPI stock reached $88.5 million which represents a 210% increase from the prior year same quarter.

Balance Sheet:

EXPI stock reported that it had $107.4 million in cash and cash equivalents by the end of June 2021. This represents a significant increase as compared to $63.6 million cash and cash equivalents on the prior-year same date. During the second quarter, EXPI stock repurchased $54.9 million of common stock.

EXPI stock declares first cash dividend:

eXp World Holdings announced a cash dividend of  $0.04 per share of its common stock for the third quarter of 2021. The shareholders of the record date  Aug. 16, 2021, will be eligible for the cash dividend. The stock is expected to pay a dividend to shareholders on August 30, 2021.

Operation highlights of EXPI stock:

• eXp Realty platform now has more than 58,263 agents and brokers which represents an 87% increase over the year.
• The stock reported a 164% increase in residential and commercial transaction sides closed
• Completed residential and commercial transaction volume reached $40.1 billion with a 210% increase over the year.
• eXp Realty expanded its operation to Colombia, Spain, and Israel in the second quarter of 2021. The stock is anticipating to operate in Japan and Germany by the end of 2021.
• The global Net Promoter Score of eXp Realty was 70 in the second quarter of 2021.

Wrap up:

Things are going well for the EXPI stock as far as market sentiment is concerned. ESPI stock showed exceptional performance in the second quarter of 2021. The stock is expanding its operations and can be a good bet for investors in the long run.