Stock Alert: Zillow Group Jumps 13% On Quarterly Results

Shares of Zillow Group, Inc. (Z) are currently gaining over 13% on Friday morning after the digital real-estate company's second-quarter revenues and earnings trumped Wall Street analysts' estimates.

Z is currently trading at $80.96, up $9.54 or 13.35%, on the Nasdaq.

For the second quarter, Zillow reported net loss of $84.4 million or $0.38 per share, wider than last year's loss of $72.0 million or $0.35 per share. Zillow's quarterly revenue grew 28% year over year to $768.4 million, driven primarily by a continued increase in Zillow Offers resale volume.

Analysts polled by Thomson Reuters expected a loss of $0.48 per share on revenues of $611.7 million for the quarter.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teva Pharmaceuticals USA, Inc. has recalled one lot of platelet-reducing drug Anagrelide in the form of capsules due to dissolution test failure detected during routine stability testing, the U.S. Food and Drug Administration, or FDA, said in a statement. The U.S. Food and Drug Administration said it has taken steps to make available millions of cans of additional infant and specialty formula to U.S. consumers in the coming months. Under the agency's recent increased flexibilities, British nutrition products maker Kendal Nutricare will send about 2 million cans of infant formula under the Kendamil brand initially to U.S. beginning in June. Video streaming giant Netflix Inc. announced the availability of a variety of mobile games. Players can download the games directly from the Netflix mobile app. The new games include Dragon Up (East Side Games), Moonlighter (11 Bit Studios), Townsmen - A Kingdom Rebuilt (HandyGames), and Exploding Kittens - The Game (Exploding Kittens Digital).
Follow RTT