Zillow (Z) guides on its CC for Q2 revenue of $75.5M-$76.5M, above a $71.8M consensus. Full-year revenue guidance has been hiked to $304M-$308M from $288M-$294M (consensus is at $294.8M). Full-year EBITDA guidance is now at $48M-$50M (up $10M at the midpoint).
Q1 results beat estimates on the back of a 72% Y/Y increase in Marketplace revenue to $53.4M (real estate +77%, mortgages +45%), and a 62% increase in Display (ad) revenue to $12.9M.
As expected, Zillow spent aggressively: Sales/marketing spend rose to $34.9M from $19.8M a year ago, R&D spend to $17M from $10.6M, and G&A to $14.7M from $8.2M.
4,654 Premier Agent subs were added, raising the total to 52,968. ARPU +6% Q/Q and +10% Y/Y to $286. Average monthly unique users +51% to 70.7M.
Trulia (TRLA) is following Zillow higher.