Zillow Stock Jumps On Q4 Earnings: Revenue Beat, EPS Beat, Monthly Users Down 2% And More

Zillow Group Inc Z ZG shares are trading higher in Tuesday’s after-hours session after the company reported better-than-expected financial results.

• Q4 Revenue: $474 million, beat estimates of $451.41 million

• Q4 EPS: 20 cents, beat estimates of 12 cents

Total revenues were up 9% on a year-over-year basis. Adjusted EBITDA came in at $69 million, driven by  higher-than-expected Rentals and Residential revenue. Monthly unique users were down 2% on a year-over-year basis to 194 million.

Zillow ended the quarter with $2.8 billion in cash and investments.

“We reported great revenue numbers across the whole of our increasingly diversified and growing business. This is evidence of the progress we're making to transform the way people buy, sell, finance and rent homes by continually adding more functionality, software and services to Zillow's housing super app,” said Rich Barton, co-founder and CEO of Zillow.

Outlook: Zillow sees first-quarter revenue in the range of $495 million to $510 million versus estimates of $500.67 million, according to Benzinga Pro.

“Our progress in crafting an integrated customer experience in our early markets has given us the confidence to press on the accelerator and expand this experience to more markets in 2024,” Barton said.

Management will hold a conference call to discuss these results at 5 p.m. ET.

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ZG Price Action: Zillow shares were up 3.73% after hours at $54 at the time of publication, according to Benzinga Pro.

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