secwatch.observer — SEC 8-K summary
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Issuer:     ZILLOW GROUP, INC. (ZG)
CIK:        0001617640
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0001617640-24-000095
Event type: leadership
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Zillow beats Q2 revenue guidance, promotes Jeremy Wacksman to CEO
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- Q2 revenue $572M (+13% YoY), $39M above outlook midpoint; Residential revenue $409M (+8% YoY), outperforming industry 3% growth.
- GAAP net loss $17M ($0.07 loss per share) vs $35M loss a year ago; Adjusted EBITDA $134M (23% margin), $41M above outlook midpoint.
- Rentals revenue $117M (+29% YoY) driven by multifamily (+44%); Mortgages revenue $34M (+42%) with purchase loan origination volume $756M (+125%).
- Jeremy Wacksman promoted to CEO from COO; Rich Barton becomes Co-Executive Chairman alongside Lloyd Frink. Effective after Q2 10-Q filing.
- Wacksman base salary $825,000; awarded 61,993 RSUs and 185,976 stock options vesting quarterly over 4 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1617640/000161764024000095/0001617640-24-000095-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1617640/000161764024000095/z-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001617640-24-000095

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