May. 7 at 8:10 PM
$Z $ZG Zillow Group reports Q1 revenue
$598M, consensus
$589.41M
On a GAAP basis, net income was
$8M, and net income margin was 1% in Q1. Reports Q1 adjusted EBITDA
$153M, or 26% of revenue, driven by revenue growth across the business and cost discipline. Zillow Chief Executive Officer Jeremy Wacksman said: "Our strong Q1 results surpassed our expectations and demonstrate how well we're executing. We are on track to meet our full-year 2025 goals, and we're well-positioned to deliver sustainable profitable growth.
As we expand our services and scale the housing super app across more markets, we are bringing more customers and real estate professionals together and making buying, selling, and renting easier for them, which is helping us grow both our revenue and profits." Traffic to Zillow Group's mobile apps and sites in Q1 was up 5% year over year to 227M average monthly unique users. Visits during Q1 were up 2% year over year to 2.4B.
