By Shaina Mishkin

Compass, the nation's largest real estate brokerage, reported a surprise profit in its first quarter. The stock was up 30% in premarket trading.

Compass posted earnings of three cents a share on $2.7 billion in revenue. Analysts had expected a 19-cent loss on $2.67 billion in revenue.

Compass stock was up roughly 30% to $9.41 in premarket trading. If the stock closes as that level, it will be the highest close since early March, and the stock's largest percentage increase since May 2023, according to Dow Jones Market Data.

The company's acquisition of the large real estate brokerage Anywhere, which closed earlier this year, helped. The company was "maniacally focused" on integrating Anywhere, the franchiser of such brands as Corcoran, Century 21, and Coldwell Banker, in the first quarter, CEO Robert Reffkin said in a statement.

"This focus led to over $250 million in net cost synergies being actioned by April 1, only 82 days after close, and allowing us to now raise our 2026 realized cost synergy target from $100 million to $200 million," Reffkin said. "By fully realizing these cost synergies, we believe Compass will be able to achieve durable profitability and lower our financial leverage in a flat housing market, with significant upside in a housing market recovery."

Write to Shaina Mishkin at shaina.mishkin@dowjones.com

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May 06, 2026 08:57 ET (12:57 GMT)

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