NASDAQ$Z

Zillow Group Inc · Q4 2024 earnings

Q4 2024 earnings · · After market close · Investor relations

Briefing

Zillow Group reported strong Q4 2024 results, exceeding revenue and Adjusted EBITDA expectations. Revenue grew 17% year-over-year to $554 million, driven by strong growth in the Rentals and Mortgages segments. The company posted a net loss of $52 million, improving from a $73 million loss in Q4 2023.

Headline financials

Total Revenue

$554M

Previous: $474M+16.9%
EPS (adj)

$0.27

Previous: $0.20+35.0%
Adjusted EBITDA

$112M

No prior period
Net Income Margin

-9.0%

No prior period
Adjusted EBITDA Margin

20.0%

No prior period
Gross Profit Margin

76.0%

No prior period
Capital Expenditures

-$41M

Previous: -$40M-2.5%
Net Income

-$52M

Previous: -$73M+28.8%
Operating Income

-$69M

Previous: -$105M+34.3%
Gross Profit

$420M

Previous: $359M+17.0%
R&D Expense

$149M

Previous: $141M+5.7%

Revenue & EPS history

Zillow · Revenue · Quarterly

$554M

Q4 2024+16.9%vs Q4 2023
Beat estimate in 15 of 15 quarters(100%)
ActualEstimate

Revenue by segment

Zillow · $496M total across 4 segments · Q3 2023

  • Residential Revenue
    $362M
  • Rentals Revenue
    $99M+33.8%
  • Mortgages Revenue
    $24M-7.7%
  • Other Revenue
    $11M-84.5%

Forward guidance

Zillow expects continued revenue growth in 2025, with an emphasis on expanding its mortgage and rental businesses while enhancing digital solutions.

Tailwinds

  • Strong growth in Rentals and Mortgages expected to continue.
  • Expansion of Zillow Showcase improving customer conversion.
  • Market share gains in residential real estate transactions.
  • Strategic investments in AI-driven real estate tools.
  • Improved financial efficiency with positive Adjusted EBITDA trends.

Headwinds

  • Macroeconomic uncertainty may impact housing market demand.
  • Rising interest rates could slow mortgage segment growth.
  • Competition in digital real estate services remains high.
  • Challenges in maintaining high traffic and engagement levels.
  • Continued net losses despite revenue growth.

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 2024

Historical avgQ4 2024

+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

Earnings price reactions
QuarterReport dateReaction (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%
Q1 2015
Q4 2014
Q3 2014
Q2 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013
Q4 2012
Q3 2012
Q2 2012
Q1 2012
Q4 2011
Q3 2011
Q2 2011
Q1 2011
Q4 2010
Q3 2010
Q2 2010
Q1 2010

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