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Zillow's (Z) First Public Earnings Report Shows Promise; Q2 Has Gains Across Board

August 24, 2011 5:02 PM EDT Send to a Friend
Shares of real estate listing company Zillow (Nasdaq: Z) are higher late Wednesday following the first official quarterly report since it's IPO in July.

Revenue for Zillow rose 116 percent from $7.33 million in the second quarter of 2010 to $15.85 million. Zillow also swung into profit; net income went from a loss of $1.997 million during the same quarter last year to $1.571 million this quarter. Earnings per share in the quarter were break even, compared with a loss of 16 cents per share in the same period last year.

Most of Zillow's revenue increase came from its Marketplace segment, which saw a 270 percent gain to $9.723 million. Display revs rose 30.2 percent to $6.122 million.

Unique users during the quarter increased 93 percent to 20.758 million, and premier agent subs saw a massive jump from 4.777 to 13.385 million.

Zillow shares appear to be flat after hours.




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