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Sep 30, 2024
Zillow Q3 2024 Earnings Report
Zillow's third-quarter results exceeded expectations, demonstrating strong revenue growth and strategic execution.
Key Takeaways
Zillow Group reported a strong third quarter with total revenue of $581 million, a 17% increase year-over-year. The company exceeded its revenue and Adjusted EBITDA outlook, driven by growth in residential, rentals, and mortgages revenue. Net loss was $20 million, while Adjusted EBITDA reached $127 million.
Zillow Group's Q3 revenue grew 17% year-over-year, exceeding the company's outlook.
Residential revenue increased by 12% year-over-year, driven by improved conversion rates.
Rentals revenue grew by 24% year-over-year, with multifamily revenue increasing by 38%.
Mortgages revenue increased by 63% year-over-year, driven by an 80% increase in purchase loan origination volume.
Revenue by Segment
Forward Guidance
Zillow Group's third-quarter results exceeded the company’s outlook for revenue and Adjusted EBITDA.
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
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