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Zillow Shares Drop As Profit Outlook Miss Overshadows Upbeat 1Q

Bloomberg.com·Judy Lagrou·26 days ago
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Zillow Group Inc. shares dropped 8% in post-market trading on Wednesday after the company’s second-quarter profit forecastBloomberg Terminal missed Wall Street expectations, overshadowing upbeat results for the first quarter of the year.

The online real estate marketplace forecast second-quarter adjusted earnings before interest, taxes, depreciation and amortization in a range of $150 million to $165 million, missing the average analyst estimate of $191 million. It sees second-quarter revenue of $750 million to $765 million, with the midpoint below the average estimate of $761.1 million.

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