Summary of Q2
Zillow reported $1.3 billion in revenue Thursday for the second quarter, slightly beating analyst’s expectations.
Expected revenue was $1.28 billion, with earnings per share of 24 cents.
Consolidated net income was $10 million.
The company’s Internet, Media, and Technology (IMT) segment grew 70% in revenue year-over-year to $476 million. Premier Agent revenue grew 82% year-over-year.
The Homes segment reached record revenue levels at $777 million.
The mortgages segment revenue grew 68% year-over-year to $57 million.
Zillow Group co-founder and CEO Rich Barton said the company expects recent housing market trends, including low interest rates and location-flexible job opportunities, to continue to fuel interest in Zillow.
The company’s mobile apps and websites saw 229 million average monthly unique users in the second quarter, representing a 5% year-over-year increase. This drove visits to 2.8 billion, up 10% year-over-year.
The company ended the quarter with cash and investments totaling $4.6 billion.
Personal Notes:
- Who can compete with Z?
- Can they take over real-estate business in the long-term with direct home sales?
- Does any other company have a sophisticated algo designed to buy homes like Z does?
- Current MC us about 29 billion. What do you expect it to be in 5 years? 10 years?
Submitted August 06, 2021 at 11:11AM by lviathebunny https://ift.tt/3lEMP9o
