Zillow Inc Earnings: Here’s Why Shares are Down Now
Zillow Inc (NASDAQ:Z) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1.54%.
Zillow Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.11 in the quarter versus EPS of $0.10 in the year-earlier quarter.
Revenue: Rose 70.83% to $39 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Zillow Inc reported adjusted EPS loss of $0.11 per share. By that measure, the company missed the mean analyst estimate of $-0.03. It beat the average revenue estimate of $37.39 million.
Quoting Management: “The first quarter was a breakout quarter for Zillow, as we reached new heights in traffic and Premier Agent subscriptions, leading to record revenue and exceeding our own expectations, as well as further extending our category leadership on mobile and Web,” said Spencer Rascoff, CEO of Zillow, Inc. “We are extremely excited about the massive market opportunity in front of us, and about growing our audience, our Premier Agent business, and our emerging marketplaces. We are stepping on the gas in a number of areas, playing the long game and making calculated investments in products, people and marketing that will allow us to create a massive, enduring brand.”
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