Zillow Q4 revenue up 18% to $654M, turns profitable with net income $3M vs loss last year

ZILLOW GROUP, INC.

2025-FY EPS reported $0.09 revenue$2,583,000,000

Q4 revenue $654M (+18% YoY); full-year $2.6B (+16%); outperformed industry by 1500bps.
GAAP net income $3M in Q4 (vs loss $52M); full-year net income $23M (vs loss $112M).
Adjusted EBITDA $149M in Q4 (margin 23%, +260bps); full-year $622M (margin 24%).
Rentals revenue surged 45% in Q4 to $168M; Multifamily revenue up 63% YoY.
Repurchased 3.4M shares for $232M in Q4; cash+investments at $1.3B.

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