Zillow stock up following fourth-quarter earnings

Shares of Zillow popped much than 3% Wednesday successful extended trading aft the institution released fourth-quarter earnings that bushed analysts' expectations connected apical and bottommost lines.

Here's however the institution did:

• Earnings per share: 21 cents adjusted vs. 7 cents expected by analysts, according to Refinitiv
• Revenue: $435 cardinal vs. $415 cardinal expected by analysts, according to Rfinitiv

The integer existent property institution reported a consolidated nett nonaccomplishment of $72 cardinal for the quarter, and consolidated adjusted EBITDA of $73 cardinal for the aforesaid period.

The company's Internet, Media and Technology segment's gross came successful astatine $417 million, a diminution of 14% twelvemonth implicit year. That segment, which represents the bulk of the company's business, includes assorted services for agents and consumers.

Traffic to Zillow's mobile apps and websites reached 198 cardinal mean monthly unsocial users for the 4th quarter, level twelvemonth implicit year.

Zillow's rentals gross accrued 13% twelvemonth implicit twelvemonth to $68 million. The institution said it continued to spot beardown postulation and maturation successful multifamily properties.

The institution announced it was exiting the home-buying concern successful 2021.

"While navigating a dilatory and hard lodging marketplace successful 2022, we kept our eyes connected the aboriginal — our imaginativeness of gathering the lodging ace app," Zillow co-founder and CEO Rich Barton said successful the release.

The institution volition clasp its quarterly telephone with investors astatine 5 p.m. ET.