Zillow Shares Slip Despite Earnings Beat, Record Revenue

By Andrea Riquier Markets MarketWatch Pulse

Shares of Zillow Group declined 3% Tuesday after the market closed, even as the company reported a per-share loss that was smaller than Wall Street analysts had expected and said revenue had hit a record high. The online real estate company said it had a net loss of $21.8 million, or 12 cents per share, compared to $156.1 million, or 87 cents, a year ago. Adjusted per-share earnings were 4 cents, Zillow said, beating the FactSet consensus of a 1-cent loss. The company said revenue was up 28% compared to a year ago, touching a record high of $267 million, while traffic to its web sites was up 17% compared to a year ago. Zillow shares are up 31% in the year to date, compared to a 10.6% gain for the S&P 500 in the same period.

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