earnings
confidence high
sentiment neutral
materiality 0.75
Zillow Q2 rev $1.01B, Adj EBITDA $164M beat; IMT rev flat; Opendoor tie-up
ZILLOW GROUP, INC.
2022-Q2 EPS reported
$0.09
revenue$5,266,000,000
- Q2 revenue $1.01B (above midpoint); IMT segment rev $475M (flat YoY); Homes segment rev $505M (exceeded outlook).
- Premier Agent rev $333M (-5% YoY); Rentals rev $71M (-3%). Mortgages rev $29M (below outlook).
- GAAP net income $8M; Non-GAAP diluted EPS $0.47; Consolidated Adj EBITDA $164M (above midpoint).
- Cash & investments $3.5B; $249M share repurchases in Q2; debt down to $1.7B after paying iBuying debt.
- Multi-year partnership with Opendoor for seller cash offers; referral fee model.