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Compass Shares Jump With NYC Recovery Boosting Revenue Growth


Source: Getty Images

Compass Inc., the real estate brokerage that made its trading debut in April, surged after the company said a hot housing market would boost revenue in the second quarter.

Compass is expecting to generate as much as $1.6 billion in revenue, it said in a statement yesterday. The company is benefiting from surging home sales as low interest rates and inventory shortages fuel bidding wars.