Loading...
•
Sep 30, 2023
Zillow Q3 2023 Earnings Report
Zillow Group's third-quarter results exceeded expectations with revenue up 3% year over year, driven by strong growth in rentals and purchase mortgage originations.
Key Takeaways
Zillow Group reported a 3% increase in total revenue, a 34% increase in rentals revenue, and an 88% increase in purchase mortgage origination business. The company's third-quarter results exceeded its outlook for revenue and Adjusted EBITDA.
Zillow Group’s third-quarter results exceeded the company’s outlook for revenue and Adjusted EBITDA.
Q3 revenue was $496 million, up 3% year over year and above the midpoint of the company’s outlook range by $24 million.
On a GAAP basis, net loss was $28 million in Q3.
Q3 Adjusted EBITDA was $107 million, $30 million above the midpoint of the company’s outlook range, driven primarily by strong Rentals revenue, higher-than-expected Residential revenue, and lower-than-expected operating expenses.
Revenue by Segment
Forward Guidance
Complete financial results for the third quarter and outlook for the fourth quarter of 2023 can be found in our shareholder letter on the Investor Relations section of Zillow Group’s website
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...