The chart below shows how ZG performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ZG sees a +3.02% change in stock price 10 days leading up to the earnings, and a +4.55% change 10 days following the report. On the earnings day itself, the stock moves by -1.23%. This data can give you a slight idea of what to expect for the next quarter's release.
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Negative
Total revenue for Q2 2024 was $572 million, showing only a 13% year-over-year growth, which, while exceeding expectations, was lower than expected for a tech-oriented company like Zillow.
Net loss for Q2 stood at $17 million, representing 3% of total revenue, indicating a lack of profitability.
EBITDA margin remained at 23% for the quarter, showcasing only a marginal year-over-year expansion of over 100 basis points, which might be considered underwhelming for investors.
Mortgage rate environment remained challenging, with total industry purchase loan origination volume down mid-single digits year-over-year in Q2, posing a significant headwind for Zillow's mortgage revenue growth.
These negative points suggest areas of concern within Zillow Group's performance that investors and stakeholders might need to monitor closely.
Zillow Group, Inc. (Z) Q2 2024 Earnings Call Transcript
ZG.O
-4.52%