Zillow Q2 2020 Earnings Report

Zillow's second quarter results exceeded expectations, driven by real estate and technology tailwinds.

Key Takeaways

Zillow Group's Q2 2020 revenue increased by 28% year-over-year to $768 million, primarily driven by Zillow Offers resale volume. The company's mobile apps and websites reached a record 218 million average monthly unique users. The company ended the quarter with $3.5 billion in cash and investments.

Total consolidated revenue grew 28% year over year to $768 million.

The Homes segment delivered $454 million in revenue.

Traffic to Zillow Group’s mobile apps and websites reached a record 218 million average monthly unique users, an increase of 12% year over year.

The company exited the quarter with the highest cash balance in its history, growing cash and investments to $3.5 billion from $2.6 billion at the end of Q1 2020.

Previous year: -$0.14