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Mar 31
Zillow Q1 2025 Earnings Report
Zillow reported strong revenue and returned to profitability in Q1 2025.
Key Takeaways
Zillow exceeded expectations in Q1 2025 with $598 million in revenue, positive net income, and continued momentum across rentals, mortgages, and Premier Agent services.
Zillow
Zillow
Zillow Revenue by Segment
Forward Guidance
Zillow remains on track to meet full-year 2025 goals, aiming for sustainable profitable growth and market expansion.
Positive Outlook
- Strong execution supports full-year targets.
- Expansion of housing super app continues across markets.
- Revenue outperformed industry growth benchmarks.
- Premier Agent and Rentals segments show robust growth.
- Cost discipline supports healthy Adjusted EBITDA margins.
Challenges Ahead
- Cash and investments declined due to share repurchases.
- No specific Q2 guidance figures disclosed.
- Revenue growth still tied to broader real estate market trends.
- Purchase mortgage market remained flat YoY.
- Ongoing reliance on third-party listing data poses strategic risk.
Revenue & Expenses
Visualization of income flow from segment revenue to net income