NASDAQ$Z
Zillow Group Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Zillow's Q3 2021 financial performance reflected strong growth in the IMT and Mortgages segments, offset by challenges in the Homes segment due to renovation and resale capacity constraints, and the company announced its plan to wind down Zillow Offers operations.
Zillow Group reported consolidated Q3 revenue of $1.7 billion. The company experienced a GAAP net loss of $328 million. Zillow also announced its plan to wind down Zillow Offers, expecting the process to take several quarters and include a workforce reduction of approximately 25%.
- Consolidated Q3 revenue reached $1.7 billion.
- IMT segment revenue grew 16% year over year to $480 million, with Premier Agent revenue growth of 20% year over year to $359 million.
- Homes segment revenue was $1.2 billion, below the company's Q3 outlook.
- Mortgages segment revenue grew 30% year over year to $70 million.
Headline financials
Revenue & EPS history
Zillow · Revenue · Quarterly
$1.74B
Revenue by segment
Zillow · $496M total across 4 segments · Q3 2023
- Residential Revenue$362M—73.0%
- Rentals Revenue$99M+33.8%20.0%
- Mortgages Revenue$24M-7.7%4.8%
- Other Revenue$11M-84.5%2.2%
Forward guidance
The company expects an additional $240 million to $265 million of losses to be recognized in Q4 primarily on homes it expects to purchase in Q4. Additionally, Homes segment Q3 revenue is below the company’s previously provided outlook range due to resale capacity constraints that pushed a number of closings into Q4 that were previously expected to close in Q3.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+1.5%
Avg return
Earnings day
+0.1%
Avg return
5 days after
-0.8%
Avg return
30 days after
56%
24 / 43 earnings
Positive
+27.1%
Q4 2018
Best reaction
-32.6%
Q3 2021
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.9% | -11.0% | -21.3% | |
| Q4 2025 | -16.5% | -20.6% | -21.6% | |
| Q3 2025 | +4.2% | +1.8% | +3.7% | |
| Q1 2025 | +0.0% | +3.6% | +3.6% | |
| Q4 2024 | -9.4% | -7.4% | -18.2% | |
| Q3 2024 | +15.7% | +20.7% | +30.9% | |
| Q2 2024 | +16.5% | +20.3% | +25.7% | |
| Q1 2024 | -6.4% | -2.0% | -3.8% | |
| Q4 2023 | +4.7% | -1.2% | -0.6% | |
| Q3 2023 | -2.1% | +2.4% | +19.6% | |
| Q2 2023 | -0.6% | +1.2% | -5.1% | |
| Q1 2023 | +8.8% | +12.7% | +9.0% | |
| Q4 2022 | +5.2% | +0.8% | -10.8% | |
| Q3 2022 | +5.3% | +8.8% | +24.9% | |
| Q2 2022 | -1.0% | -3.2% | -9.1% | |
| Q1 2022 | -13.8% | -17.4% | -10.9% | |
| Q4 2021 | +11.6% | +31.2% | -3.1% | |
| Q3 2021 | -32.6% | -32.0% | -44.2% | |
| Q2 2021 | -7.4% | -8.6% | -10.7% | |
| Q1 2021 | -9.5% | -5.7% | -13.7% | |
| Q4 2020 | +15.0% | +17.2% | -10.7% | |
| Q3 2020 | +18.5% | +0.4% | +7.0% | |
| Q2 2020 | +13.0% | +6.7% | +18.8% | |
| Q1 2020 | +22.0% | +13.3% | +36.6% | |
| Q4 2019 | +21.7% | +14.2% | -48.0% | |
| Q3 2019 | +11.7% | +12.5% | +22.1% | |
| Q2 2019 | -15.0% | -25.2% | -36.5% | |
| Q1 2019 | +3.3% | +5.9% | +33.5% | |
| Q4 2018 | +27.1% | +21.0% | +2.5% | |
| Q3 2018 | -25.9% | -25.2% | -8.5% | |
| Q2 2018 | -13.9% | -14.9% | -17.2% | |
| Q1 2018 | +4.3% | +3.9% | +17.7% | |
| Q4 2017 | +1.3% | +0.4% | +23.9% | |
| Q3 2017 | +0.5% | -3.1% | +0.8% | |
| Q2 2017 | -8.2% | -13.7% | -18.2% | |
| Q1 2017 | +11.7% | +8.4% | +14.5% | |
| Q4 2016 | -5.7% | -6.0% | -3.8% | |
| Q3 2016 | +5.2% | +3.3% | +1.5% | |
| Q2 2016 | -4.2% | -7.4% | -11.0% | |
| Q1 2016 | +11.9% | — | — | |
| Q4 2015 | +6.1% | — | — | |
| Q3 2015 | -2.8% | — | — | |
| Q2 2015 | -5.3% | — | — | |
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