The online real estate database said that for its second quarter of fiscal 2018, it brought in net losses of $3.1 million, or 2 cents per share. The figure was much narrower than the company’s losses of $21.8 million, or 12 cents per share from the year-ago quarter.
Zillow added that it brought in earnings of 13 cents per share on an adjusted basis, a 225% gain compared to the 4 cents per share it amassed during the year-ago quarter. The Wall Street consensus estimate called for adjusted earnings of 9 cents per share, according to data compiled by FactSet.
Revenue was underwhelming for the online real estate database at $325.3 million, below the $326 million in sales that analysts were calling for, according to data compiled by FactSet. However, Zillow’s revenue was better than its-year ago sales of $266.9 million by 21.9%.
For its third quarter of fiscal 2018, the company is calling for revenue in the range of $337 million to $347 million. Wall Street projects sales of $408 million.
Zillow also announced the acquisition of Mortgage Lenders of America on Monday.
Z stock was down about 15.8%, while ZG stock declined 16.4% after the bell on Monday following the company’s dismal third-quarter revenue outlook. Z shares gained 1% and ZG stock surged 1.3% during regular trading hours.