Zillow Provides Sales, EBITDA Outlook That Are Below Expectations
Zillow Group Inc. Chief Executive Spencer Rascoff said in a conference call to discuss operational progress that full-year 2015 revenue is expected to be $690 million, according to FactSet, which is below the FactSet consensus of $740.4 million. He also said earnings before interest, taxes, depreciation and amortization (EBITDA) is expected to be in the range of $80 million to $85 million, below the FactSet consensus of $146.8 million. The stock is currently halted for news dissemination. Prior to the halt, it was up 3% in premarket trade. Through Monday, it had lost 12% year to date, while the S&P 500 had gained 1.6%.
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