Zillow Q3 revenue $496M (+3% YoY); beats guidance; acquires Follow Up Boss for $400M

ZILLOW GROUP, INC.

2023-Q3 EPS reported -$0.36 revenue$1,471,000,000

Q3 revenue $496M, up 3% YoY and $24M above guidance midpoint; Residential revenue $362M (-3%) vs industry -14%.
Rentals revenue $99M (+34% YoY); Mortgages revenue $24M (-8%) but purchase loan origination volume +88% YoY.
GAAP net loss $28M; Adjusted EBITDA $107M, $30M above guidance midpoint.
Announced acquisition of Follow Up Boss for $400M cash upon close + up to $100M earnouts over 3 years.
Cash & investments $3.3B; $100M share repurchases in Q3; available repurchase auth $914M.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ZILLOW GROUP, INC. reported the three months ended September 30, 2023 results: revenue $496 million, net income net loss was $28 million.

Period: the three months ended September 30, 2023
Revenue: $496 million
Net income: net loss was $28 million
Result: reported results

Exact text from the filing

for both movers and partners.” Recent highlights include: • Zillow Group’s third-quarter results exceeded the company’s outlook for revenue and Adjusted EBITDA. • Q3 revenue was $496 million, up 3% year over year and above the midpoint of the company’s outlook range by $24 million. ◦ Residential revenue of $362 million outperformed both the industry total transaction

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ZILLOW GROUP, INC. filing history →

Source: SEC EDGAR

accession 0001617640-23-000108

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