Zillow Stock Jumps On Q3 Earnings: Revenue Beat, EPS Beat, Visits Up 3%, 233M Monthly Active Users

Zillow Group Inc ZG Z reported financial results for the third quarter after the bell on Wednesday. Here’s a look at the key details from the print.

• Q3 Revenue: $581 million, versus estimates of $554.68 million

• Q3 Adjusted EPS: 35 cents, versus estimates of 29 cents

Total revenue was up 17% year-over-year. Residential revenue climbed 12%, Rentals revenue was up 24% and Mortgages revenue jumped 63% year-over-year.

“We continue to invest in tech solutions to build the integrated transaction experience consumers demand and deserve. These investments give Zillow an advantage as we connect high-intent movers with high-performing agents, driving adoption of our services and contributing to increased revenue,” said Jeremy Wacksman, CEO of Zillow.

Zillow had 233 million average monthly active users across its mobile apps and sites in the quarter, up 1% year-over-year. Visits during the period were up 3% year-over-year to 2.4 billion.

Zillow said it ended the third quarter with $2.2 billion in cash and investments, down from $2.6 billion at the end of the second quarter.

“Looking ahead, we're focused on capturing a more meaningful share of the $30 billion accessible total addressable market in residential real estate already in our funnel today, while continuing to deliver on behalf of customers and shareholders,” the company said in a letter to shareholders.

See Also: HubSpot Shares Climb After Strong Q3 Results: EPS Beat, Revenues Beat

ZG Price Action: Zillow shares were up 11.88% in after-hours, trading at $62.74 at the time of publication, according to Benzinga Pro. It’s worth noting that the stock closed Wednesday down 7.47% before popping in extended trading.

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