Zillow stock climbs as FQ4 revenue and EBITDA exceed expectations
Zillow (NASDAQ:ZG) (Z) saw its shares rise more than 3% following the closing bell on Tuesday after the company reported better-than-expected FQ4 revenue.
Specifically, revenue came in at $474 million, topping the consensus estimate of $451.21 million.
The real estate marketplace operator’s Mortgages segment contributed $22 million to the revenue, outperforming the estimated $20.7 million.
Moreover, Zillow's adjusted EBITDA for the quarter was $69 million, significantly higher than the predicted $58.3 million.
Zillow reported 2.2 billion visits to its platform during the period, aligning with analysts’ estimates.
«We reported great revenue numbers across the whole of our increasingly diversified and growing business,” said Zillow co-founder and CEO Rich Barton.
»Our progress in crafting an integrated customer experience in our early markets has given us the confidence to press on the accelerator and expand this experience to more markets in 2024."
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