Zillow Group reports Q1 profit despite traffic decline
Updated
Updated · The Wall Street Journal · May 6
Zillow Group reports Q1 profit despite traffic decline
9 articles · Updated · The Wall Street Journal · May 6
Net income rose to $46 million, or 19 cents a share, from $8 million a year earlier, while revenue increased to $708 million and average monthly users fell to 220 million.
Adjusted earnings of 53 cents a share beat FactSet estimates of 45 cents, and revenue topped forecasts, but shares fell 7.4% in after-hours trading.
Rentals revenue jumped 42% to $183 million, for-sale revenue rose 12% to $514 million, and loan origination nearly doubled to $1.5 billion, even as the stock remains down 35% this year.
With record profits and massive buybacks, why did Zillow’s stock still plummet?
Zillow's traffic fell but its audience grew. Which number reveals its true market power?
Can Zillow's specialized AI tools defend its turf from larger, generalist AI platforms?