Zillow (NASDAQ:ZG,NASDAQ:Z) earnings for the real estate company’s fourth quarter of 2019 have ZG stock taking off after-hours Wednesday. The company’s earnings report includes revenue of $943.95 million. This is much better than Wall Street’s revenue estimate of $815.51 million for the quarter.
Here are some additional highlights from the most recent Zillow earnings report.
- Revenue for the period comes in 158.38% higher than the $365.34 million from the same time last year.
- The Zillow earnings report also has it revealing a net loss of -$101.21 million.
- That’s 3.61% wider net loss than the -$97.68 million reported during the same period of the year prior.
- Adjusted EBITDA reported by the company comes in at -$3.18 million.
- That’s a major switch from its adjusted EBITDA of $32.36 million during the fourth quarter of 2018.
Rich Barton, co-founder and CEO of Zillow, said this about the ZG stock earnings report:
“In all, I’d characterize 2019 as tumultuously remarkable. We’re in the midst of a multi-year expansion to rewire real estate transactions and streamline how our customers buy, sell, rent and borrow that dramatically expands our market opportunity and profit potential. Our team’s strong execution delivered record Q4 and full year results that beat our outlook on every measure.”
A conference call will take place at 5:00 p.m. Eastern Time to go over the Zillow earnings report. The call will be lead by Barton, as well as CFO Allen Parker. The live call is available via (866) 270-1533 domestically and at (412) 317-0797 internationally.
ZG stock was up about 9% after-hours Wednesday.
As of this writing, William White did not hold a position in any of the aforementioned securities.