Zillow In-Line with Estimates, Disappoints Investors
Zillow's (NASDAQ: Z) second-quarter EPS of $0.04 may have been in-line with the $0.04 estimate, but that has not stopped investors from abandoning the stock in after hours trading.
At market close, Zillow was up more than five percent. Since the company released its earnings, Zillow shares have dropped more than six percent.
The company guided Q3 revenue of $30 million to $31 million, which is just a little bit higher than Wall Street's estimate of $29.9 million. The company also filed a $150 million mixed securities shelf.
Earlier today, Zillow announced that 30-year fixed mortgages had fallen to a record low of 3.34 percent.
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