What caused RMR's earnings to miss forecasts in Q2 2024?

RMR's earnings fell short of forecasts in Q2 2024 due to a combination of factors: 1. **Lower-than-Expected Revenue**: The company's revenue came in at $205.48 million, while estimates pointed to $230.4 million. This discrepancy of 10.52% below expectations can be attributed to reduced transaction volumes and market challenges in the commercial and multifamily real estate sectors. 2. **Higher Expenses**: The company reported higher expenses, particularly in the residential platform, RMR residential, which impacted profitability. These increased costs, coupled with lower-than-expected revenue, contributed to the earnings shortfall. In summary, RMR's earnings miss was primarily due to lower revenue and higher expenses, particularly in the residential sector.