Zillow Group (ZG) Posts Larger Q2 Loss, While Revenues Beat; Raises Revenue Outlook

Zillow Group, Inc. (NASDAQ: ZG) (NASDAQ: Z) reported Q2 EPS of ($0.71), $0.68 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $208.4 million versus the consensus estimate of $205.9 million.

GUIDANCE:

Zillow Group, Inc. sees Q3 2016 revenue of $217-222 million, versus the consensus of $217.13.

Zillow Group, Inc. sees FY2016 revenue of $830-840 million, versus prior guidance of $825-835 million, versus the consensus of $831.5 million.

"Record revenue and traffic growth were highlights of Zillow Group’s tremendous second quarter,” said Zillow Group CEO Spencer Rascoff. “We continue to command significant category leadership on mobile and web, reaching an all-time high of unique users in May and achieving our largest market share of the real estate category. It is clear that our monetization on mobile is benefiting from our significant market leadership, which now captures 78% of the mobile-only category. We are executing well against our long-term strategic priorities to increase our audience size, grow our Premier Agent and emerging marketplaces, and attract and retain the best talent in the industry.”

For earnings history and earnings-related data on Zillow Group, Inc. (ZG) click here.

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