Real estate website operator Zillow Inc (Z) reported better-than-expected quarterly revenue and earnings as a recovering U.S. housing market boosted subscriptions.
Zillow, which gets most of its revenue from subscriptions to its website from real estate agents, said the number of paid subscribers rose 64 percent to 48,314 in the fourth quarter.
Revenue jumped 70 percent to $58.3 million.
Net income rose to $2.7 million, or 6 cents per share, in the fourth quarter, from $549,000, or 2 cents per share, a year earlier.
Excluding items, the company earned 19 cents per share.
Analysts on average had expected earnings of 7 cents per share on revenue of $54.4 million, according to Thomson Reuters I/B/E/S.
Zillow said average monthly unique users to Zillow.com increased 57 percent to 54.4 million in the quarter.
The company said the number of people using mobile devices to access its site nearly doubled, but did not provide numbers.
Zillow's competitors include Trulia Inc, which operates Trulia.com, and Move Inc, owner of sites such as Realtor.com.
(Reporting by Sruthi Ramakrishnan in Bangalore; Editing by Don Sebastian and Sriraj Kalluvila)