ZipRecruiter, Inc. (ZIP) Reports Q3 Loss, Tops Revenue Estimates

Core Viewpoint - ZipRecruiter, Inc. reported a quarterly loss of $0.03 per share, outperforming the Zacks Consensus Estimate of a loss of$0.10, marking a 70% earnings surprise [1] - The company generated revenues of $117.08 million for the quarter ended September 2024, exceeding the Zacks Consensus Estimate by 4.27$155.63 million year-over-year [2] Financial Performance - Over the last four quarters, ZipRecruiter has surpassed consensus EPS estimates two times and topped revenue estimates four times [2] - The current consensus EPS estimate for the upcoming quarter is -$0.12 on revenues of$111.07 million, and for the current fiscal year, it is -$0.21 on revenues of$469.29 million [7] Stock Performance - ZipRecruiter shares have declined approximately 32.7% since the beginning of the year, contrasting with the S&P 500's gain of 21.2% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Industry Outlook - The Business - Services industry, to which ZipRecruiter belongs, is currently in the top 23% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact ZipRecruiter's stock performance [5]