Zillow Group(Z) - 2025 Q3 - Quarterly Results

ZILLOW GROUP, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, unaudited) | | | | Three Months Ended | | | | Nine Months Ended | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | September 30, | | | | September 30, | | | | | 2025 | | 2024 | | 2025 | | 2024 | | Revenue | $ | 676 | $ | 581 | $ | 1,929 | $ | 1,682 | | Cost of revenue (1) | | 185 | | 140 | | 490 | | 393 | | Gross profit | | 491 | | 441 | | 1,439 | | 1,289 | | Operating expenses: | | | | | | | | | | Sales and marketing (1 ...