Zillow Group Inc operates as a prominent online real estate marketplace that connects buyers, sellers, and renters with a vast array of property listings and related services
The company offers a range of tools and resources, including home valuation estimates, browsing options for residential properties, and a platform for real estate professionals to manage their listings effectively. Zillow aims to simplify the real estate process by providing comprehensive information and innovative technology to empower consumers to make informed decisions regarding buying, selling, and renting homes. Additionally, the company has expanded its services to include home financing options and a unique platform for home renovations and improvement services.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Zillow (NASDAQZG) and its peers.
Goldman Sachs downgrades Redfin Corp. from Neutral to Sell due to competition, commission pressures, and affordability challenges in U.S. housing market.
Shares of online real estate marketplace Zillow (NASDAQZG)
jumped 25.2% in the afternoon session after the company reported strong third-quarter earnings that exceeded analysts' revenue, EBITDA, and EPS expectations. However, Q4 guidance was mixed, with revenue in line while EBITDA came in below. Regardless, the results were encouraging amid a challenging operating environment as elevated rates have impacted the purchasing power of home buyers, leading to lower transaction volumes.
Real estate brokerage and services firm Marcus & Millichap (NYSEMMI)
will be announcing earnings results tomorrow before market open. Here’s what you need to know.
Online real estate marketplace Zillow (NASDAQZG) announced better-than-expected revenue in Q3 CY2024, with sales up 17.1% year on year to $581 million. Its non-GAAP profit of $0.35 per share was also 20.1% above analysts’ consensus estimates.
Zillow's Q3 report is expected to reflect continued revenue growth. With new CEO Jeremy Wacksman at the helm, Zillow remains focused on enhancing its digital real estate platform.
Warren Buffett, widely considered the greatest investor of all time, is one of the richest people on the planet, but you wouldn't know that based on the clothes he wears, the car he drives — or even the house he lives in.
