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Zillow Earnings: ZG Stock Skyrockets 11% on Q3 Earnings

Zillow (NASDAQ:ZG) earnings for the real estate company’s third quarter of 2019 have ZG stock heading higher on Thursday. This is thanks to its losses per share of -31 cents on revenue of $745.21 million. These are both better than Wall Street’s estimates of -43 cents and $717.38 million.

Zillow Earnings: ZG Stock Skyrockets 11% on Q3 Earnings

Source: OpturaDesign /

Let’s take a more in-depth look at the most recent Zillow earnings report.

  • The biggest benefit for ZG stock is a revenue increase of 117% from the same time last year.
  • It’s worth mentioning that Zillow saw its EPS from last year turn to losses in the current quarter.
  • Net loss for the quarter comes in at $64.65 million.
  • That’s a 13040.24% wider net loss than the -$492,000 in the third quarter of 2018.

Zillow co-founder and CEO Rich Barton says the following about the current ZG stock earnings.

“Our core Premier Agent business is strong, with record revenue that exceeded our outlook. The profitability of our Premier Agent business is foundational to Zillow’s success and is the reason we are able to expand Zillow Offers with such confidence and speed. This quarter’s results illuminate how Zillow Group is in the most favorable position to lead Real Estate 2.0.”

The Zillow earnings report also includes its outlook for the full year of 2019. This has it expecting revenue between $2.589 billion and $2.624 billion. That’s good news for ZG stock as it puts the low end of the guidance above Wall Street’s $2.54 billion estimate.

ZG stock was up 10.79% in after-hours trading on Thursday.

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media,

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