NASDAQ$Z
Zillow Group Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Zillow Group's Q4 2023 financial results exceeded expectations, with revenue up 9% year over year.
Zillow Group's Q4 revenue was $474 million, a 9% increase year-over-year, exceeding the company's outlook. Residential revenue increased by 3%, rentals revenue grew by 37%, and mortgages revenue rose by 22%. The company reported a net loss of $73 million and an Adjusted EBITDA of $69 million.
- Zillow Group's fourth-quarter results exceeded the company’s outlook for revenue and Adjusted EBITDA.
- Q4 revenue was $474 million, up 9% year over year and above the midpoint of the company’s outlook range by $31 million.
- Residential revenue was up 3% year over year in Q4 to $349 million, outperforming both the residential real estate industry total transaction value decline of 4% and the company’s outlook.
- Rentals revenue of $93 million increased 37% year over year, primarily driven by multifamily revenue growing 52% year over year in Q4.
Headline financials
Revenue & EPS history
Zillow · Revenue · Quarterly
$474M
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
Complete financial results and outlook for the first quarter of 2024 can be found in our shareholder letter on the Investor Relations section of Zillow Group’s website at
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 Q4 2023
+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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