Zillow Group slides after revenues and losses jump

|About: Zillow Group, Inc. (Z)|By:, SA News Editor

Zillow Group is slipping hard after hours (Z -11.5%, ZG -11.1%) after topping consensus with Q2 revenues that jumped 84% from last year based on new contributions from the Homes segment.

Overall revenues rose to $599.6M.

But Homes also generated the bulk of pretax losses ($71.1M worth), and the company's net loss widened to $71.98M from a year-ago loss of $3.09M.

Revenue by segment: IMT, $323.7M (up 6%); Homes, $249.9M (new); Mortgages, $26.99M (up 40%).

For Q3, it's guiding to revenue of $694M-$727M (vs. consensus for $661.5M) and EBITDA of -$18M to $2M.

It's also announcing four new Offers markets for early to mid-2020: Cincinnati; Tucson, Ariz.; Oklahoma City; and Jacksonville, Fla.

Conference call to come at 5 p.m. ET.

Press release

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