Zillow reported better than expected earnings and revenue: a third-quarter loss of $53 million, or 21 cents a share, on net revenue of $483 million, down from $1.74 billion a year ago. $ZG shares have declined 52.7% so far this year:
Zillow Group Inc. is done selling houses a year after ditching its iBuying business, and executives reported better-than-expected earnings and revenue while wrapping up the effort in the third quarter, though their forecast undershot Wall Street’s expectations.
Analysts on average expected adjusted earnings of 14 cents a share on sales of $458 million. Zillow stock increased more than 4% in after-hours trading following the release of the results, after closing with a 4.9% decline at $29.43. Those changes have continued in the past year, as Zillow has unloaded all of the homes. Executives said Wednesday that the sales were complete as of the end of the third quarter, on Sept. 30, and the division had been completely shut down.
Management has continued to make changes in reaction to the changing environment, including laying off even more workers last week. Executives have said their ultimate goal is to meld the assets of its two remaining segments — Internet, Media and Technology, or IMT, as well as the mortgages business — into a mobile “super app” that can help buyers and sellers navigate the entire home-buying and -selling process.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Judge grants new group a chance to curtail ballot-box watchersFor Star subscribers: The same federal judge last week who refused to block the activities of self-proclaimed monitors some Phoenix-area voters have deemed intimidating, will hear arguments from a new group.
Consulte Mais informação »
‘Underrated gem’: Greatest hits from rapper Takeoff, from the group MigosFor those who are not familiar with his work, we wanted to list a couple of his greatest hits throughout his years of rapping and being featured on songs with mega stars.
Consulte Mais informação »
Takeoff of Rap Group Migos Dead at 28 After Fatal Shooting in HoustonMigos rapper Takeoff was fatally shot early Tuesday outside a bowling alley in Houston, an attorney for the rapper confirmed to NBC News. He was 28.
Consulte Mais informação »
Digital Currency Group promotes Mark Murphy to president in restructuringDigital Currency Group (DCG) has moved Mark Murphy from the role of chief operating officer to president as part of a restructuring effort.
Consulte Mais informação »
Pepper balls launched at group crossing US-Mexico borderU.S. Border Patrol agents launched pepper balls at a group of migrants who crossed the U.S.-Mexico border along the Rio Grande in El Paso.
Consulte Mais informação »
Judge orders armed group away from Arizona ballot drop boxesA federal judge on Tuesday ordered armed members of a group monitoring ballot drop boxes in Arizona to stay at least 250 feet away from the locations following complaints that people wearing masks and carrying guns were intimidating voters. U.S. District Court Judge Michael Liburdi said members of Clean Elections USA, its leader and anyone working with them are also barred from filming or following anyone within 75 feet (23 meters) of a ballot drop box or the entrance to a building that houses one. The temporary restraining order was requested by the League of Women Voters of Arizona after Clean Elections USA, encouraged people to watch 24-hour ballot boxes in Maricopa County, Arizona’s most populous county.
Consulte Mais informação »