Zillow Pummels Shorts with Q4 Earnings
Shares of online real estate website Zillow (NYSE: Z) soared after-hours following the company's impressive fourth quarter results. Shares traded up as much as 14% in after-hours trading Wednesday.
Zillow posted a fourth quarter earnings per share figure of $0.02, more than the breakeven estimate. Revenue also came in better than expected at $34.30 million -- analysts had been looking for $31.47 million.
Further, Zillow said its fourth quarter traffic was up 47%, amounting to 34.5 million average monthly unique users.
Earlier on Wednesday, Benzinga suggested that Zillow could be a short squeeze candidate, given that well over one-third of the company's shares have been sold short. Trulia (NASDAQ: TRLA), operating in a similar space, rallied more than 20% Wednesday after it too posted strong earnings.
Shares of Zillow traded near $43 in Wednesday's after-hours session.
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