- Zillow (Z) guided on its Q3 CC for Q4 revenue of $55M-$56M, above a $53.4M consensus. Shares are once more rallying after taking a breather over the last six weeks. Trulia (TRLA) +2.8% AH in sympathy.
- Q3 EPS of -$0.05 beat consensus by $0.03. Marketplace revenue (77% of total) +73% Y/Y to $40.9M after rising 86% in Q2; real estate revenue accounted for $35.1M, and mortgage revenue $5.7M. Display revenue (ads) +50% to $12.4M after growing only 29% in Q2.
- 5,942 Premier Agent subs were added, up from 4,777 in Q2. The total base rose 68% Y/Y to 44,749. Average revenue/sub was $264, -$2 Q/Q and -$6 Y/Y.
- Average monthly unique visitors (via both mobile and PCs) totaled 61.1M, +13% Q/Q and +69% Y/Y. comScore estimates Zillow's PC online real estate share rose to 34% from 27% at the beginning of 2013.
- Mobile visits more than doubled Y/Y; they "nearly doubled" in Q2. As was the case in Q2, 60% of Zillow visits took place via mobile devices.
- Spending remains aggressive: sales/marketing spend rose 121% Y/Y to $31.2M, R&D spend rose 82% to $12.2M, and G&A spend doubled to $10.4M. All three growth rates outpaced rev. growth of 67%.
- Q3 results, PR
Zillow issues strong revenue guidance, shares +6.1% AH
Nov 5 2013, 19:24 ET