Zillow Group Inc

ZG

Equity

ISIN US98954M1018 / Valor 27201263

NASDAQ (2024-12-24)

USD 73.80+0.57%

Zillow Group Inc
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About company

Zillow Group Inc is a real estate technology company that offers products and services to help real estate professionals streamline their businesses and enhance customer experiences. The company's technology suite includes ShowingTime, dotloop, Bridge Interactive, Listing Media Services, and Listing Showcase. Zillow Group also provides for-sale and rental listings on Zillow.com, mortgage pre-approvals and financing through Zillow Home Loans, and support through Zillow Premier Agent. Additionally, Zillow Group has initiatives such as integrating MLS listings into Zillow.com, launching Mortgage Marketplace for hassle-free mortgage loan quotes, acquiring Mortgage Lenders of America, introducing AI-powered 3D Home Tours, and implementing Smart Search for easier home searches. The company has also pledged $5 million towards addressing housing insecurity and offers agent ratings and reviews for home buyers and sellers.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Zillow Group Inc's second-quarter 2024 revenue was $572 million, marking a 13% increase year over year. This figure exceeded the midpoint of the company's outlook range by $39 million, showcasing strong performance across its business segments.

Residential Revenue

In Q2 2024, Zillow Group Inc's residential revenue rose by 8% year over year to $409 million. This growth outpaced the residential real estate industry's total transaction value growth of 3%, indicating Zillow's competitive edge in the market.

Rentals and Mortgages

Zillow Group Inc's rentals revenue for the second quarter of 2024 was $117 million, a 29% increase year over year, driven primarily by a 44% growth in multifamily revenue. Additionally, mortgages revenue surged by 42% to $34 million, largely due to a 125% increase in purchase loan origination volume.

Net Loss and Adjusted EBITDA

On a GAAP basis, Zillow Group Inc reported a net loss of $17 million for Q2 2024, which is 3% of total revenue. However, the company's Adjusted EBITDA was $134 million, or 23% of total revenue, surpassing the midpoint of the company's outlook range by $41 million.

Cash and Investments

At the end of the second quarter of 2024, Zillow Group Inc's cash and investments totaled $2.6 billion, down from $2.9 billion at the end of the first quarter of 2024. This decrease reflects the company's ongoing investments and operational expenditures.

Summarized from source with an LLMView Source

Key figures

27.1%1Y

18.4%3Y

65.1%5Y

Performance

52.5%1Y

55.0%3Y

61.2%5Y

Volatility