Zillow Group Inc

Latest Results (03.10.2025):

Zillow Group Inc reported strong financial performance for the second quarter of 2025, surpassing revenue expectations and achieving robust growth across its key business segments. The company's strategic initiatives and effective execution have driven significant advancements in its real estate services, contributing to a solid financial foundation and positive outlook for the future.

Revenue Growth

Second-quarter revenue increased by 15% year over year to $655 million, exceeding the company's outlook. This growth outperformed the residential real estate industry's total transaction value growth of 2%, as tracked by Zillow.

For Sale Segment

Revenue from the For Sale segment rose by 9% year over year to $482 million. Residential revenue within this segment grew by 6% to $434 million, supported by enhancements in agent and software offerings and the New Construction marketplace.

Mortgages and Rentals

Mortgages revenue surged by 41% year over year to $48 million, driven by a 48% increase in purchase loan origination volume. Rentals revenue also saw a significant rise of 36% to $159 million, primarily due to a 56% growth in multifamily revenue.

Profitability and EBITDA

On a GAAP basis, Zillow reported a net income of $2 million for Q2 2025, achieving a net income margin of 0%. Adjusted EBITDA reached $155 million with a margin of 24%, reflecting better-than-expected revenue growth and effective cost management.

Cash Position and User Engagement

Cash and investments totaled $1.2 billion at the end of Q2, down from $1.6 billion in Q1, primarily due to the settlement of convertible notes and share repurchases. Additionally, traffic to Zillow’s mobile apps and websites grew by 5% year over year, with average monthly unique users reaching 243 million.