Zillow Shares Drop 8% Despite Q2 Revenue Beat, Provides Guidance
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Zillow Group (ZG) Shares Tumble as Guidance Disappoints
August 5, 2022 9:54 AM EDTShares of Zillow Group (NASDAQ: ZG) (NASDAQ: Z) plunged 10% in early trading despite the company reporting earnings after the close Thursday that revealed revenue topped analyst estimates.
Zillow reported Q2 revenue of $1 billion versus the consensus estimate of $984.81 million. Net income was $8 million in Q2.
Furthermore, Zillow's Homes segment reported revenue of $505 million as the wind-down of its iBuying operations continued to progress faster than anticipated.
"Despite the challenges of the macroeconomic environment, we're making strides in key growth areas including financing, touring and... More
