Zillow Inc Earnings: Here’s Why the Stock is Rising Now
Zillow Inc (NASDAQ:Z) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 4.5%.
Zillow Inc Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $0.02 in the quarter versus EPS of $0.03 in the year-earlier quarter.
Revenue: Rose 72.45% to $34.3 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Zillow Inc reported adjusted EPS income of $0.02 per share. By that measure, the company beat the mean analyst estimate of $0. It beat the average revenue estimate of $31.47 million.
Quoting Management: “The fourth quarter was another terrific one as incredible execution by the Zillow team re-accelerated year-over-year growth, and delivered revenue and profit that exceeded our expectations,” said Spencer Rascoff, chief executive officer of Zillow, Inc. “The quarter capped off a pivotal year of tremendous growth and we’re looking forward to 2013 as we focus on three core priorities: attracting more users with great products and services; growing our Premier Agent business with unmatched value and tools; and accelerating our emerging mortgage, rental and home improvement marketplaces.”
Key Stats (on next page)…