Zillow Group Shares Jump After Narrowing 3Q Loss, Posting Higher-Than-Expected Revenue

Dow Jones11-07

Shares of Zillow Group gained after the company narrowed its loss and beat analysts' revenue expectations in the third quarter.

The stock jumped 14% in after-hours trading Wednesday. Shares, which ended the regular session down 6.6%, to $58.68, have gained 40% in the last three months, putting them roughly flat for the year.

The home-listing site posted a net loss of $20 million, or 8 cents a share, compared with a loss of $28 million, or 12 cents a share, in last year's quarter.

Revenue rose 17%, to $581 million, beating the $555.4 million that analysts polled by FactSet expected.

Residential revenue came in at $405 million, up 12% from last year, boosted by more buyers and sellers completing transactions with Zillow agent partners. Rentals revenue increased 24%, to $123 million, primarily driven by higher multifamily revenue, while mortgages revenue surged 63%, to $39 million.

Chief Executive Jeremy Wacksman said the company's technology investments to build out an integrated transaction platform are paying off. "These investments give Zillow an advantage as we connect high-intent movers with high-performing agents, driving adoption of our services and contributing to increased revenue," he said.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

3

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2481543966?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-11-07 08:34","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2481543966","market":"us","top_or_hot":-1,"title":"Zillow Group Shares Jump After Narrowing 3Q Loss, Posting Higher-Than-Expected Revenue","media":"Dow Jones","content":"<p>Shares of <a href=\"https://laohu8.com/S/Z\">Zillow</a> Group gained after the company narrowed its loss and beat analysts' revenue expectations in the third quarter.</p><p>The stock jumped 14% in after-hours trading Wednesday. Shares, which ended the regular session down 6.6%, to $58.68, have gained 40% in the last three months, putting them roughly flat for the year.</p><p class=\"t-img-caption\"><img src=\"https://community-static.tradeup.com/news/d0064264e9228c4ff0a257fe685152e8\" tg-width=\"374\" tg-height=\"135\"></p><p>The home-listing site posted a net loss of $20 million, or 8 cents a share, compared with a loss of $28 million, or 12 cents a share, in last year's quarter.</p><p>Revenue rose 17%, to $581 million, beating the $555.4 million that analysts polled by FactSet expected.</p><p>Residential revenue came in at $405 million, up 12% from last year, boosted by more buyers and sellers completing transactions with Zillow agent partners. Rentals revenue increased 24%, to $123 million, primarily driven by higher multifamily revenue, while mortgages revenue surged 63%, to $39 million.</p><p>Chief Executive Jeremy Wacksman said the company's technology investments to build out an integrated transaction platform are paying off. \"These investments give Zillow an advantage as we connect high-intent movers with high-performing agents, driving adoption of our services and contributing to increased revenue,\" he said.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Zillow Group Shares Jump After Narrowing 3Q Loss, Posting Higher-Than-Expected Revenue</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nZillow Group Shares Jump After Narrowing 3Q Loss, Posting Higher-Than-Expected Revenue\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-07 08:34 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://dowjonesnews.com/newdjn/logon.aspx?AL=N><strong>Dow Jones</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of Zillow Group gained after the company narrowed its loss and beat analysts' revenue expectations in the third quarter.The stock jumped 14% in after-hours trading Wednesday. Shares, which ...</p>\n\n<a href=\"https://dowjonesnews.com/newdjn/logon.aspx?AL=N\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ZG","symbol_name":"Zillow Class A","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481543966","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481543966","pubTimestamp":1730939646,"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Shares of $Zillow(Z)$ Group gained after the company narrowed its loss and beat analysts' revenue expectations in the third quarter.The stock jumped in after-hours trading Wednesday. Shares, which end","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ZG":"Zillow Class A","Z":"Zillow"},"translate_title":"Zillow Group第三季度亏损收窄、营收高于预期后股价上涨","themeId":"c0d77e622a6742cf8335299f8317b4b4","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"Z":1,"ZG":0.9},"content_text":"Shares of Zillow Group gained after the company narrowed its loss and beat analysts' revenue expectations in the third quarter.The stock jumped 14% in after-hours trading Wednesday. Shares, which ended the regular session down 6.6%, to $58.68, have gained 40% in the last three months, putting them roughly flat for the year.The home-listing site posted a net loss of $20 million, or 8 cents a share, compared with a loss of $28 million, or 12 cents a share, in last year's quarter.Revenue rose 17%, to $581 million, beating the $555.4 million that analysts polled by FactSet expected.Residential revenue came in at $405 million, up 12% from last year, boosted by more buyers and sellers completing transactions with Zillow agent partners. Rentals revenue increased 24%, to $123 million, primarily driven by higher multifamily revenue, while mortgages revenue surged 63%, to $39 million.Chief Executive Jeremy Wacksman said the company's technology investments to build out an integrated transaction platform are paying off. \"These investments give Zillow an advantage as we connect high-intent movers with high-performing agents, driving adoption of our services and contributing to increased revenue,\" he said.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"express","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":3,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481543966"}