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Jun 30, 2020
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.