The RealReal Slips As Higher Costs, Legal Expenses Widen Loss By Investing.com
By Dhirendra Tripathi Investing.com – TheRealReal (NASDAQ:REAL) stock plunged more than 9% in Tuesday’s premarket trade as higher costs including those on marketing as well as legal expenses pulled the company’s June-quarter bottomline further into the red from last year. Total revenue rose 83% from the year-ago June quarter to $104.91 million but that was overshadowed by a 78% increase in costs of revenue and a 63% jump in operating expenses including legal costs. The company also substantially invested in operations and technology. At $11 million, costs for a legal settlement were 10.5% of the total...
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