Fourth Quarter Gains Boost Zillow's Stock

As Zillow shares soared almost 3% as a result of the company announcing fourth-quarter earnings that exceeded both analyst and market expectations at the top and bottom of the earnings report on Wednesday.

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The company's performance was as follows:

• During the first quarter of 2008, Trade Algo estimated 21 cents in adjusted earnings per share, compared to analyst expectations of 7 cents.
• Based on the research of Trade Algo, revenue came in at $435 million versus analysts' expectations of $415 million

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According to the company's report, the company had a net loss of for the period $72 million, and in terms of adjusted EBITDA for the same period, it had a $73 million loss.

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It just so happens that the Internet, Media, and Technology segment of the company generated $417 million in revenue last year, which is a 14% decline over the previous year. There are multiple services offered to consumers and agents under that segment, which comprises the company's major business.

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The fourth quarter of 2014 saw 198 million unique users visit Zillow's mobile apps and websites, a flat year-over-year increase compared to last year's 198 million unique users.

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It has a 103% year-over-year increase in rental revenue as Zillow has increased its rental revenue to $68 million. There has been an increase in traffic to multifamily properties and the company has reported growth within that section of the market.

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The company announced that it will exit the home-buying business in 2021, announcing that it would make the transition.

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Zillow co-founder and CEO Rich Barton stated in a press release that although the housing market was slow and difficult in 2022, the company kept its eyes on the future - towards building a super app to meet the housing needs of consumers.

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A conference call with investors will be held by the company on Thursday, March 5th, starting at 5 p.m. Eastern Time.