• Following a ‘Tumultuously Remarkable' 2019, Zillow Reports Record YoY Earnings

    1 month ago - By RIS Media

    According to Zillow's latest earnings report , the company's revenue increased 158 percent year-over-year, culminating in a record $943.9 million that surpassed the $810 million expected by analysts. Zillow's full-year consolidated revenue more than doubled year-over-year to $2.7 billion, and the real estate company ended 2019 with $2.4 billion in cash, cash equivalents and investments after posting a $0.26 loss-a win over the predicted -$0.30.
    Following the release of its earnings report on Wednesday, Feb. 19, Zillow Group Inc. shares gained more than 8 percent in after-hours trading...
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  • Zillow lost $5,000 per sale in its fast-growing house-flipping business in 2019 - the same year that VC money poured into smaller iBuyer startups

    Zillow lost $5,000 per sale in its fast-growing house-flipping business in 2019 - the same year that VC money poured into smaller iBuyer startups

    1 month ago - By Business Insider

    Zillow Group's revenue more than doubled in 2019 from a year earlier to $2.7 billion. This surge was driven by Zillow's home-flipping business, which was launched in April 2018.
    While Zillow continues to grow its home-flipping business, it is not yet profitable. The company lost roughly $5,000 per home sale on average in 2019, taking into account holding costs, selling costs, and interest expense.
    CEO Rich Barton said that the company is expecting to expand iBuying into 26 markets by mid-year but will focus most of its energy on increasing share in the markets it already operates...
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