Zillow Earnings: ZG Stock Dips as Q4 Loss Widens, Co-Founder Returns

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Zillow (NASDAQ:ZG) shed some light on where the company is headed as it announced its quarterly results late on Thursday, while also revealing that one of its main former leaders is coming back to the helm once again.

Zillow EarningsThe online real estate database said that for its fourth quarter of its fiscal 2018, its net loss was up to $97.7 million, about 26.5% wider than it was during the year-ago period. On an adjusted basis, the company managed to turn a profit of a penny per share, meeting the amount that the Wall Street guidance was calling for.

Zillow added that its revenue for the period tallied up to $365.3 million, a 29% gain when compared to the amount of the year-ago period. Analysts were projecting the company’s sales to reach $351 million.

In other big news, the database operator said that co-founder Rich Barton, who brought Zillow to the masses in 2005, has been brought back as CEO, a position he occupied until 2010. The other co-founder is Lloyd Frink, and he will take on the role of executive chairman.

For its first quarter of the current fiscal year, the company said it sees revenue in the range of $417 million and $443 million, ahead of the $404 million that analysts see.

ZG stock is down about 1.5% after the bell as the company posted its quarterly results and announced the return of its former CEO. Shares had been up close to 0.5% during regular trading hours on Thursday.


Article printed from InvestorPlace Media, https://investorplace.com/2019/02/zillow-earnings-zg-stock/.

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