Tue, May 12, 5:44 PM
- After coming off a halt, Zillow (NASDAQ:Z) is up 1.8% AH in the wake of its Q1 report. In spite of a Q1 revenue miss, the company is reiterating full-year revenue and adjusted EBITDA guidance of $690M and $80M-$85M (provided on April 14).
- The Market Leader real estate CRM software unit (acquired by Trulia in 2013) was a weak spot in Q1: Its sales fell 11% Y/Y to $13.6M. Display ad sales were also light, rising only 5% on a pro forma basis (i.e. counting both Zillow and Trulia's full numbers) to $25.6M. Yelp, LinkedIn, and others have reported soft Q1 display ad sales, while often blaming industry adoption of programmatic (automated) ad-buying platforms that have depressed prices.
- Core real estate services revenue was stronger, rising 54% to $113.4M. Mortgage services revenue rose 33% to $10M.
- Business metrics: Zillow had 103,415 Premier Agent advertisers at the end of Q1 - that figure includes Trulia agents. Premier Agent ARPA was $354; it was $359 for Zillow proper in Q4. Following the end of the ListHub deal, Zillow says it now receives 100% of real estate listings directly. March unique visitors totaled nearly 140M, and close to 2/3 of Zillow brand usage now occurs on mobile.
- Pro forma adjusted EBITDA more than doubled Y/Y to $24.5M. $12.5M worth of acquisition costs were recorded, as were $25.1M worth of restructuring costs - Zillow/Trulia announced job cuts after their merger closed in February.
- Q1 results, PR
Tue, May 12, 4:32 PM
Tue, May 12, 4:05 PM
Mon, May 11, 5:35 PM
Tue, Apr. 14, 9:13 AM| 3 Comments
Fri, Feb. 13, 5:52 PM
- More specific metrics from Zillow's (NASDAQ:Z) Q4 report: Average monthly unique users of nearly 77M (up 41%); mobile visits (nearly two-thirds of Zillow's visits) were up 57%.
- Premier Agent advertising revenue hit an annualized run rate of more than $268M vs. prior year's $157M. Zillow netted 1,428 new Premier Agent advertisers at average revenue of $359, up from prior year's $271.
- For the full year, revenues were up 65% to record $325.9M (Marketplace Revenue up 73% to $267.2M; Display Revenue up 37% to $58.7M).
- There's no conference call to discuss earnings, but Zillow is holding a call to discuss the Trulia acquisition Wed., Feb. 18 at 9 a.m. ET, the day after it expects to close the deal.
- Shares now significantly higher after hours, +5.2%.
Fri, Feb. 13, 5:20 PM
- Zillow (NASDAQ:Z) is now up 1.2% in late trading after beating on the top line with record revenue, and despite an EPS miss.
- The company also says it expects to close its acquisition of Trulia (NYSE:TRLA) as soon as Tuesday, now that the FTC has wrapped its look at the deal.
- Revenues of $92.3M (up 58%) were made up of: Display Revenue of $14.1M (up 17%); Marketplace Revenue of $78.2M (up 69%).
- Marketplace Revenue comprised Real Estate Revenue of $70.8M (up 73%) and Mortgages Revenue of $7.4M (up 38%).
- Adjusted EBITDA of $20M (22% of revenue) missed expectations of $22.15M.
- Press release
- Previously: Zillow and Trulia soar; FTC staff reportedly backs deal (Jan. 23 2015)
Fri, Feb. 13, 5:12 PM
Tue, Feb. 10, 5:35 PM
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Nov. 5, 2014, 5:51 PM
- Zillow (NASDAQ:Z) guides on its Q3 CC (webcast) for Q4 revenue of $89M-$90M, below a $91M consensus.
- Q3 real estate revenue +86% Y/Y to $65.6M; mortgages revenue +24% to $7.1M; display (ad) revenue +30% to $16M.
- Premier Agent net adds totaled 4,059, raising the total base to 60.877. Average revenue per advertiser rose to $349 from $264 a year ago.
- Excluding acquisition-related costs, total GAAP costs/expenses rose 56% Y/Y to $91.7M.
- As one would expect, all-stock merger partner Trulia (NYSE:TRLA) is following Zillow lower. Both companies also sold off following Trulia's Q3 report.
- Q3 results, PR
Nov. 5, 2014, 4:32 PM
Oct. 29, 2014, 6:11 PM
- Trulia's (NYSE:TRLA) Y/Y Marketplace revenue growth slowed to 78% in Q3 from 142% in Q2, and its Media revenue growth to 26% from 41%. Marketplace was 83% of Q3 revenue, and Media 17%.
- The company's monthly unique visitors rose 36% Y/Y in Q3 to 55M; Q2 growth was 48%. Mobile monthly uniques +89% to 29.9M; growth was nearly even with Q2's 92%.
- Subscribers grew by 3.9K Q/Q to 77.9K. ARPU was $204, down $2 Q/Q and up $8 Y/Y. New contributions to user-generated content rose 5% Y/Y to 1.2M.
- Excluding restructuring costs, GAAP opex rose 76% Y/Y to $89.3M. Cost of revenue totaled $12M, R&D spend $14.9M, sales/marketing $38.9M, G&A $11.6M, and acquisition costs $10.8M.
- Trulia isn't providing guidance ahead of its planned merger with Zillow (NASDAQ:Z). Zillow reports on Nov. 5.
- Q3 results, PR
Oct. 29, 2014, 4:14 PM
Aug. 5, 2014, 6:30 PM
- Zillow (NASDAQ:Z) expects Q3 revenue of $87M-$88M and full-year revenue of $321M-$323M, above consensus estimates of $82.6M and $310.8M. Full-year adjusted EBITDA guidance has been hiked by $4M to $52M-$54M.
- The figures don't assume any revenue from the Trulia (NYSE:TRLA) merger, which is expected to close in 2015.
- Q2 Marketplace revenue +72% Y/Y to $78.7M, an even growth rate with Q1. Within the segment, real estate revenue rose 83% to $56.1M, and mortgages revenue 13% to $6.6M.
- Display (ad) revenue +53% Y/Y to $16.1M, after growing 62% in Q1.
- Premier Agent subs rose by 3,850 Q/Q to 56.8K; 4,654 were added in Q1. ARPU rose to $320 from $286 in Q1 and $266 a year ago. Monthly unique users rose 49% to 81.1M, and mobile visits nearly doubled.
- With marketing and R&D spend remaining aggressive, GAAP costs/expenses rose 56% Y/Y to $89.4M. Sales/marketing spend made up $48.1M of the total.
- Zillow is nearly unchanged AH. Trulia is up 1.1%.
- Q2 results, PR
Aug. 5, 2014, 4:34 PM
Jul. 31, 2014, 4:16 PM
Z vs. ETF Alternatives
Zillow Group Incoperates the real estate and home-related information marketplaces on mobile and the Web, with a complementary portfolio of brands and products to help people find vital information about homes and connect with local professionals.
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