Z Stock Price | Zillow Group Inc. Cl C Stock Quote (U.S.: Nasdaq)

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Zillow stock jumps as home-buying business continues to increase revenue and losses

Zillow Group Inc. shares gained more than 8% in after-hours trading Wednesday after the online real-estate company continued to show growing revenue and widening losses amid a move into buying and selling homes. Zillow reported a fourth-quarter loss of $101.2 million, or 49 cents a share, on sales of $943.9 million, up from $365.3 million and well ahead of analysts’ estimates. After adjusting for stock-based compensation, interest payments and other costs, the company claimed an adjusted Ebitda loss of $3.2 million, better than its forecast. Analysts on average expected Zillow to report an adjusted-Ebitda loss of $32.8 million on sales of $814.6 million, according to FactSet. Zillow’s financial results have been greatly changed by the company’s move into buying and selling houses — Zillow said that it bought 1,787 homes in the fourth quarter and sold 1,902, leaving it with 2,707 homes in its inventory. For comparison, Zillow launched its Zillow Offers service in the fourth quarter of 2018, and bought 499 homes while selling 141. The company hopes to purchase 5,000 homes a month within two to four years. Zillow shares closed at a 52-week high of $54.47 Wednesday, then topped $59 in the extended session after the results were announced.






2020-02-19 21:21:43

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