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Zillow Slides on Q4 Earnings Miss, Mobile Traffic Reaches 140 Million MAUs
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Zillow Group Inc. (ZG - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings, before non-recurring items, of 5 cents per share and revenues of $227.6 million. Currently, ZG is a #3 (Hold) on the Zacks Rank, and is down 5.76% to $35.02 per share in trading shortly after its earnings report was released.
Missing earnings estimates. The company posted non-GAAP earnings of 5 cents per share, missing the Zacks Consensus Estimate of 14 cents per share. This number excludes 18 cents per share from non-recurrin items.
Beat revenue estimates. The company saw record revenue figures of $227.6 million, beating our consensus estimate of $223 million and increasing 34% year-over-year.
Zillow said that traffic to its mobile apps and websites reached over 140 million average monthly unique users in Q4 and an annual seasonal peak of more than 171 million unique users back in May 2016.
Marketplace Revenue increased 42% to $210.6 million from $148.3 million in the fourth quarter of 2015.
Leads to Zillow Group Premier Agent Advertisers for Q4 grew nearly 33% year-over-year to 3.9 million.
Looking ahead to fiscal 2017, Zillow expects revenues in the range of $1.030 billion to $1.050 billion, and for the first quarter of fiscal 2017, revenues should fall in the range of $232 million to $237 million.
"Zillow Group had a fantastic year in 2016," said Zillow Group CEO Spencer Rascoff. "We set records for annual revenue and site traffic, and ended on a strong note with solid fourth quarter results that were ahead of expectations. We executed on all of our strategic priorities for the year and completed the roll out of our self-serve account interface to Premier Agents nationally.”
Here’s a graph that looks at Zillow’s price, consensus, and EPS surprise:
Zillow Group, Inc. Price, Consensus and EPS Surprise
Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow, Trulia, StreetEasy. and HotPads. The company's business brands include ActiveRain, Diverse Solutions, Market Leader, Mortech, Postlets, and Retsly. Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle.
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Zillow Slides on Q4 Earnings Miss, Mobile Traffic Reaches 140 Million MAUs
Zillow Group Inc. (ZG - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings, before non-recurring items, of 5 cents per share and revenues of $227.6 million. Currently, ZG is a #3 (Hold) on the Zacks Rank, and is down 5.76% to $35.02 per share in trading shortly after its earnings report was released.
Missing earnings estimates. The company posted non-GAAP earnings of 5 cents per share, missing the Zacks Consensus Estimate of 14 cents per share. This number excludes 18 cents per share from non-recurrin items.
Beat revenue estimates. The company saw record revenue figures of $227.6 million, beating our consensus estimate of $223 million and increasing 34% year-over-year.
Zillow said that traffic to its mobile apps and websites reached over 140 million average monthly unique users in Q4 and an annual seasonal peak of more than 171 million unique users back in May 2016.
Marketplace Revenue increased 42% to $210.6 million from $148.3 million in the fourth quarter of 2015.
Leads to Zillow Group Premier Agent Advertisers for Q4 grew nearly 33% year-over-year to 3.9 million.
Looking ahead to fiscal 2017, Zillow expects revenues in the range of $1.030 billion to $1.050 billion, and for the first quarter of fiscal 2017, revenues should fall in the range of $232 million to $237 million.
"Zillow Group had a fantastic year in 2016," said Zillow Group CEO Spencer Rascoff. "We set records for annual revenue and site traffic, and ended on a strong note with solid fourth quarter results that were ahead of expectations. We executed on all of our strategic priorities for the year and completed the roll out of our self-serve account interface to Premier Agents nationally.”
Here’s a graph that looks at Zillow’s price, consensus, and EPS surprise:
Zillow Group, Inc. Price, Consensus and EPS Surprise
Zillow Group, Inc. Price, Consensus and EPS Surprise | Zillow Group, Inc. Quote
Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow, Trulia, StreetEasy. and HotPads. The company's business brands include ActiveRain, Diverse Solutions, Market Leader, Mortech, Postlets, and Retsly. Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle.
Zacks' Top 10 Stocks for 2017
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-hold tickers for the entirety of 2017?
Who wouldn't? As of early December, the 2016 Top 10 produced 5 double-digit winners including oil and natural gas giant Pioneer Natural Resources which racked up a stellar +50% gain. The new list is painstakingly hand-picked from 4,400 companies covered by the Zacks Rank. Be among the very first to see it>>