Zillow (Z) Tops Q1 EPS by 6c

Zillow (NASDAQ: Z) reported Q1 EPS of ($0.05), $0.06 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $127.3 million versus the consensus estimate of $137.5 million.

"The combined team at Zillow Group is executing extremely well across all of our brands and marketplaces," said Zillow Group CEO Spencer Rascoff. "Our already massive audience of home shoppers continues to grow throughout our network of brands, and we are rapidly recognizing the benefits of scale. We have integrated the Zillow mortgage and rentals products into Trulia, giving our advertisers and partners access to an even wider consumer audience. And most importantly, we are on track to combine our agent advertising business by the end of 2015, setting us up to fully realize the potential of Zillow Group's huge and growing audience."

Zillow and Trulia now receive 100% of listings directly, and coverage of for-sale-by-agent listings is better than it ever has been for the two brands. Zillow Group continues to add MLS partners. Since the operating call four weeks ago, 47 new MLSs have started sending direct listings. By receiving listings directly, Zillow Group can provide the most accurate and timely listings to millions of consumers who visit the company's portfolio of brands each month.

Zillow reaffirmed FY2015 guidance.

For earnings history and earnings-related data on Zillow (Z) click here.

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