---
schema_version: "secwatch.filing_event.v1"
accession: "0001617640-25-000062"
form_type: "8-K"
ticker: "ZG"
cik: "0001617640"
company_name: "ZILLOW GROUP, INC."
filed_at: "2025-05-07T23:59:59+00:00"
generated_at: "2026-05-22T08:13:24.880744+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Zillow Q1 revenue up 13% to $598M, GAAP net income $8M, authorizes $1B buyback

## Summary
- Q1 revenue $598M (+13% YoY), above outlook midpoint; GAAP net income $8M vs loss of $23M YoY.
- Adjusted EBITDA $153M (26% margin, +200bps YoY); For Sale revenue $458M (+8%), Rentals $129M (+33%).
- Board authorized additional $1B share repurchase; Q1 repurchases $250M; $131M remained from prior program.
- Traffic: 227M avg monthly unique users (+5%), visits 2.4B (+2%).
- Full-year 2025 guidance reaffirmed: low-to-mid teens revenue growth, margin expansion, positive GAAP net income.

## SEC filing metadata
- accession: 0001617640-25-000062
- form_type: 8-K
- ticker: ZG
- cik: 0001617640
- company_name: ZILLOW GROUP, INC.
- filed_at: 2025-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1617640/000161764025000062/0001617640-25-000062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1617640/000161764025000062/z-20250507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001617640-25-000062
- JSON: https://secwatch.observer/filing/0001617640-25-000062.json
- Plain text: https://secwatch.observer/filing/0001617640-25-000062.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.