Zillow Shares Down 7% Despite Q1 Beat

Zillow Group, Inc. (NASDAQ: Z) (NASDAQ: ZG) shares were trading more than 7% lower after-hours despite the company’s reported Q1 results, with revenue of $4.3 billion coming in better than the consensus estimate of $3.38 billion.

IMT segment revenue was $490 million (up 10% year-over-year), Homes segment revenue was $3.7 billion, and Mortgages segment revenue was $46 million.

The company’s Board of Directors has authorized an additional $1 billion share repurchase program.

The company provided its Q2 outlook, expecting total revenue in the range of $903 million-$1,031 million, and total adjusted EBITDA in the range of $134 - $169 million.

By Davit Kirakosyan

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