Zillow Q1 Earnings Beat, Q2 Guidance Below Estimates, Shares Fall

Benzinga

Zillow Group reported first-quarter revenue of $598 million, beating analyst estimates of $586.54 million, according to Benzinga. Adjusted earnings per share came in at 41 cents, above the expected 38 cents. The company's first-quarter revenue rose 13% year-over-year, outpacing the growth in total transaction value across the residential real estate industry. CEO Jeremy Wacksman said the company's strong first-quarter results exceeded expectations and confirmed it is on track to achieve its 2025 goals and sustain profitable growth. Zillow expects second-quarter revenue to be in the range of $635 million to $650 million versus estimates of $650.96 million, per Benzinga Pro.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Zillow Group recorded first quarter revenue of $598 million,

00:05beating analysts' estimates of $586.54 million, according to Benzinga.

00:09Justin Erring's first share came in at $0.41, above the expected $0.38.

00:13The company's first quarter revenue rose 13% year-over-year,

00:16outpacing the growth in total transaction value across the residential real estate industry.

00:21CEO Jeremy Waxman said the company's strong first quarter results

00:24exceeded expectations and confirmed it is on track to achieve its 2025 goals

00:29and sustained profitable growth.

00:31Zillow expects second quarter revenue to be in the range of $635 million to $650 million,

00:36for estimates of $650.96 million per Benzinga Pro.

00:39For all things money, visit Benzinga.com slash GSTV.

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