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I opened positions in Z best buy tonight in premarket π― $100 +
Source: The Motley Fool
Zillow looks strong across the board
Overall revenue at Zillow rose 17% to $581 million, beating the midpoint of the company's guidance at $553 million and the consensus at $554.7 million.
Growth was broad based as residential revenue was up 12% to $405 million as more buyers and sellers worked with Zillow agent partners. Rentals revenue rose 24% to $123 million, and mortgage revenue jumped 63% to $39 million.
The company added new technology to improve its interface, including artificial intelligence (AI)-powered natural-search functionality, and its enhanced-markets strategy, which offers an end-to-end experience in dozens of metros, is also paying off.
On the bottom line, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was $127 million, well ahead of guidance. On a generally accepted accounting principles (GAAP) basis, it posted a loss of $20 million, or $0.08 per share.
Calling it another strong quarter, CEO Jeremy Wacksman said, "We continue to invest in tech solutions to build the integrated transaction experience consumers demand and deserve.
What's next for Zillow
Zillow is the leading online real estate platform, and the company finally seems to be building out a business model worthy of that position.
Looking ahead to the fourth quarter, it sees total revenue of $525 million to $540 million, which was in line with estimates, and adjusted EBITDA of $90 million to $105 million.
Seventeen-percent growth in the quarter is clearly a strong sign as is improving EBITDA margins. If the housing market bounces back, Zillow could be set up to soar.
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The movement of Zillow (Z) stock can be attributed to several factors. Please note that the information provided is based on available news and may not represent the complete picture. Here are the key points:
Zillow's Q3 Financial Report: Zillow reported strong Q3 financial results, exceeding expectations and driving investor optimism. The company's total revenue increased by 17% year-over-year to $581 million, surpassing the consensus estimate of $555 million. The residential segment, which includes home-buying and selling services, experienced a revenue growth of 12% to $405 million.
Positive Revenue Growth: Zillow's revenue growth was broad-based, with both residential revenue and rentals revenue showing significant increases. Residential revenue rose by 12% to $405 million, while rentals revenue increased by 24% to $123 million. This growth can be attributed to more buyers and sellers working with Zillow agent partners.
Mortgage Revenue Surge: Zillow witnessed a substantial increase in mortgage revenue, which jumped by 63% to $39 million. This growth indicates the company's success in expanding its mortgage services.
Enhanced Technology and Strategy: Zillow added new technology to improve its interface, including AI-powered natural-search functionality. Additionally, its enhanced-markets strategy, which offers an end-to-end experience in multiple metropolitan areas, is proving to be successful.
Adjusted EBITDA and GAAP Loss: Zillow's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) reached $127 million, well ahead of guidance. However, on a Generally Accepted Accounting Principles (GAAP) basis, the company posted a loss of $20 million, or $0.08 per share. Despite the GAAP loss, the strong adjusted EBITDA demonstrates the company's profitability.
These positive developments in Zillow's financial performance have likely contributed to the surge in its stock price. It is important to note that stock prices are also influenced by various market factors and investor sentiment.
Please remember that investing in stocks involves risks, and it's crucial to conduct thorough research and consider your own investment goals before making any investment decisions.
Sources:
Interpretation of changes, eye-catching financial report + good profits from legal cases, Zillow's stock price rose 27%
Interpretation of changes: Zillow's Q3 financial report exceeded expectations, and legal risks were reduced, triggering a surge in stock prices
Stock Track | Zillow Stock Surges as Q3 Results Beat Estimates on Strong Segment Growth
Capital Flow Data (1 Day) for Zillow (Z):
Total Inflow: $36.77 million
Total Outflow: $30.87 million
Big Inflow: $4.50 million
Median Inflow: $3.14 million
Small Inflow: $29.13 million
Big Outflow: $2.40 million
Median Outflow: $2.26 million
Small Outflow: $26.22 million
Please note that this information is for reference purposes only and does not constitute investment advice. Always perform your own research and consult with a qualified financial advisor before making investment decisions.
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