Zillow Group (ZG) Falls Short of Q3 Earnings Projections
Earnings Performance: Zillow Group reported quarterly earnings of $0.44 per share, slightly missing the Zacks Consensus Estimate of $0.45, but showing an increase from $0.35 per share a year ago. The company has not surpassed consensus EPS estimates in the last four quarters.
Revenue Growth: The company achieved revenues of $676 million for the quarter, exceeding the Zacks Consensus Estimate by 1.05% and up from $581 million year-over-year. Zillow has topped revenue estimates four times in the past year.
Stock Outlook: Zillow shares have declined by 2.8% since the start of the year, underperforming the S&P 500's 17.2% gain. The stock currently holds a Zacks Rank #3 (Hold), indicating expected performance in line with the market.
Industry Context: The Financial - Mortgage & Related Services industry, to which Zillow belongs, ranks in the top 39% of Zacks industries, suggesting a favorable outlook. Investors are advised to monitor earnings estimate revisions for future stock performance.
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