Zillow (Z) Q2 Earnings and Revenues Surpass Estimates

Company Performance - Zillow reported quarterly earnings of $0.39 per share, exceeding the Zacks Consensus Estimate of $0.31 per share, with an earnings surprise of 25.81% [1] - The company generated revenues of $572 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5.98%, compared to $506 million in the same quarter last year [1] - Over the last four quarters, Zillow has surpassed consensus EPS estimates two times and revenue estimates three times [1] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.44 on revenues of $564.3 million, and for the current fiscal year, it is $1.42 on revenues of $2.18 billion [4] - The estimate revisions trend for Zillow is currently unfavorable, resulting in a Zacks Rank 4 (Sell), indicating expected underperformance in the near future [4] Industry Context - The Real Estate - Operations industry, to which Zillow belongs, is currently ranked in the bottom 26% of over 250 Zacks industries, suggesting potential challenges ahead [5] - Another company in the same industry, American Strategic Investment Co., is expected to report a quarterly loss of $2.99 per share, reflecting a year-over-year change of +37.3% [5][6]