Zillow Stock Jumps On Q3 Earnings: Revenue Beat, EPS Beat, Visits Up 3%, 233M Monthly Active Users – Zillow Gr (NASDAQ:ZG)

Zillow Group Inc ZG Z reported monetary outcomes for the third quarter after the bell on Wednesday. Right here’s a take a look at the important thing particulars from the print.

Q3 Income: $581 million, versus estimates of $554.68 million

Q3 Adjusted EPS: 35 cents, versus estimates of 29 cents

Complete income was up 17% year-over-year. Residential income climbed 12%, Leases income was up 24% and Mortgages income jumped 63% year-over-year.

“We proceed to spend money on tech options to construct the built-in transaction expertise customers demand and deserve. These investments give Zillow a bonus as we join high-intent movers with high-performing brokers, driving adoption of our providers and contributing to elevated income,” mentioned Jeremy Wacksman, CEO of Zillow.

Zillow had 233 million common month-to-month lively customers throughout its cell apps and websites within the quarter, up 1% year-over-year. Visits throughout the interval have been up 3% year-over-year to 2.4 billion.

Zillow mentioned it ended the third quarter with $2.2 billion in money and investments, down from $2.6 billion on the finish of the second quarter.

“Wanting forward, we’re targeted on capturing a extra significant share of the $30 billion accessible whole addressable market in residential actual property already in our funnel right now, whereas persevering with to ship on behalf of consumers and shareholders,” the corporate mentioned in a letter to shareholders.

See Additionally: HubSpot Shares Climb After Sturdy Q3 Outcomes: EPS Beat, Revenues Beat

ZG Worth Motion: Zillow shares have been up 11.88% in after-hours, buying and selling at $62.74 on the time of publication, in keeping with Benzinga Professional. It’s value noting that the inventory closed Wednesday down 7.47% earlier than popping in prolonged buying and selling.

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