27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
Zillow Group Inc (NYSE:ZG) (NYSE:Z) shares are volatile in Wednesday's after-hours session after the company reported strong fourth-quarter results and issued guidance above analyst estimates.
What Happened: Zillow reported fourth-quarter revenue of $435 million, which beat average analyst estimates of $413.48 million, according to Benzinga Pro. The company reported a quarterly net loss of $72 million.
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IMT segment revenue was above the high end of the company's outlook range, declining 14% year-over-year to $417 million. Premier Agent revenue outperformed the company's expectations, decreasing 20% year-over-year to $283 million.
Rentals revenue increased 13% year-over-year to $68 million. Mortgages came in at $18 million, near the midpoint of company expectations.
198 million average monthly uniques used Zillow's mobile apps and websites in the fourth quarter, flat year-over-year.
Zillow ended the quarter with cash and investments of $3.4 billion, down from $3.5 billion sequentially.
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"While navigating a slow and difficult housing market in 2022, we kept our eyes on the future — our vision of building the housing super app. Our consolidated Q4 financial results outperformed our expectations, and we've been rapidly shipping products aligned with our five growth pillars," said Rich Barton, co-founder and CEO of Zillow.
Zillow expects first-quarter revenue to be between $404 million and $437 million versus estimates of $421.54 million.
The company will host a conference call to discuss the results at 5 p.m. ET.
See Also: After-Hours Alert: Why Cisco Stock Is Surging
Z Price Action: Zillow shares initially surged nearly 10% on the report before pulling back and turning negative.
The stock was up 3.24% after hours at $49.03 at the time of publication, according to Benzinga Pro.
Photo: PublicDomainArchive from Pixabay.
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.