Zillow Stock Slides on Soft Outlook

Benzinga Earnings08-06 05:30

Zillow Group Inc (NASDAQ:Z) shares are moving lower in Wednesday’s after-hours session after the company reported second-quarter results and issued soft guidance.

Zillow Group shares are sliding. Why is Z stock dropping?

Zillow Q2 Earnings Rundown

Q2 Revenue: $772 million, versus estimates of $758.04 million
Q2 Adjusted EPS: 52 cents, versus estimates of 44 cents

Total revenue was up 18% year-over-year in the second quarter. Residential revenue was up 7%, Mortgages revenue increased 75% and Rentals revenue increased 31%. The company noted that its revenue growth outperformed the broader residential real estate industry, which grew by 6%.

“Zillow delivered another quarter of strong results and consistent execution. We outperformed the broader housing market and our outlook, and we are on track toward our full-year goals,” said Jeremy Wacksman, CEO of Zillow.

Zillow expects third-quarter revenue to be in the range of $745 million to $760 million versus Benzinga Pro estimates of $760.90 million. The company also guided for full-year 2026 revenue of $2.92 billion to $2.96 billion versus estimates of $2.98 billion.

Z Shares Slide After Hours

Z Price Action: Zillow shares were down 10.25% in after-hours, trading at $32.40 at the time of publication on Wednesday, according to Benzinga Pro.

Read Also: I'm 26, Living With My Parents and Paying Rent. I'm Desperate to Buy a House, but They Say Buying a House Now Doesn't Make Sense. Are They Right?

Image: Shutterstock.com

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