Zillow Stock Jumps On Q4 Earnings: Revenue Beat, EPS Beat, Monthly Users Down 2% And More
Portfolio Pulse from Adam Eckert
Zillow Group Inc (Z and ZG) reported Q4 earnings with revenue of $474 million and EPS of 20 cents, both surpassing estimates. Despite a 2% drop in monthly users, total revenues increased by 9% year-over-year. Adjusted EBITDA was $69 million, attributed to higher Rentals and Residential revenue. The company ended the quarter with $2.8 billion in cash and investments. Zillow's outlook for Q1 revenue is between $495 million and $510 million. Shares rose 3.73% after hours to $54.
February 13, 2024 | 10:03 pm
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POSITIVE IMPACT
Zillow Group Inc (Z) surpassed Q4 revenue and EPS estimates, with a positive outlook for Q1 revenue. Shares increased 3.73% after hours.
The positive earnings report and revenue beat, along with an optimistic revenue outlook for Q1, are likely to boost investor confidence in Zillow's stock (Z) in the short term. The after-hours stock price increase of 3.73% indicates immediate positive market reaction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Zillow Group Inc (ZG) reported higher than expected Q4 revenue and EPS, with shares rising 3.73% after hours. The company forecasts Q1 revenue to be between $495 million and $510 million.
Zillow Group Inc (ZG) exceeded Q4 expectations in both revenue and EPS, and provided a strong revenue outlook for Q1. This positive financial performance and future revenue guidance are likely to positively influence ZG's stock price in the short term, as evidenced by the after-hours price increase.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100