Zillow Group, Inc. (ZG) Reports Q2 Revenues Slightly Miss; Offers FY18 Revenue Outlook Below Consensus

Zillow Group, Inc. (NASDAQ: ZG) reported Q2 EPS of $, versus $0.10 reported last year. Revenue for the quarter came in at $325.25 million versus the consensus estimate of $325.65 million.

“Zillow Group’s second quarter 2018 year-over-year revenue growth of 22% was driven primarily by our Premier Agent, Rentals and New Construction marketplaces,” said Zillow Group CEO Spencer Rascoff. “This quarter also marked a major milestone in Zillow Group’s history, as we launched our Homes business and began buying houses directly from homeowners in two cities through Zillow Offers™. At this exciting time in the real estate industry, Zillow Group is committed to developing innovative technology and services, like Zillow Offers and, with today’s announcement, potential for mortgage originations, that help our partners meet evolving consumer expectations, while generating more revenue opportunities.”

GUIDANCE:

Zillow Group, Inc. sees FY2018 revenue of $1.32-1.35 billion, versus the consensus of $1.49 billion.

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

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