The more time passes, the more complex Zillow Group’s earnings report becomes, adjusting for big-ticket items like its Trulia acquisition and its legal battle with Move/News Corp.
To help digest the numbers, watch this CNBC interview with Zillow Group CEO Spencer Rascoff as he touches on the growth of the company, its real estate agent standard and the state of the housing market.
Zillow posted its second-quarter earnings after the close of business on Thursday, locking in record revenue of $208.4 million in the second quarter, beating capital consensus and moving past its contentious legal battle with Move/New Corp.
"Record revenue and traffic growth were highlights of Zillow Group's tremendous second quarter," said Rascoff in the earnings release. "We continue to command significant category leadership on mobile and web, reaching an all-time high of unique users in May and achieving our largest market share of the real estate category.”
At close of business Friday, Zillow Group's stock was down 5.54%.
However, after the release of its earnings, a slew of company have raised their price targets on Zillow Group, including RBC Capital Markets, which raised its ZG target to $42 from $36, and Mizuho, which raised its target to $35 from $32, a note for briefing.com stated.
