Online real estate marketplace Zillow (NASDAQ: ZG) will be reporting results this Wednesday after market hours. Here’s what investors should know.
Zillow met analysts’ revenue expectations last quarter, reporting revenues of $708 million, up 18.4% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and a decent beat of analysts’ EBITDA estimates.
Is Zillow a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Zillow’s revenue to grow 15.7% year on year, improving from the 14.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Zillow has a history of exceeding Wall Street’s expectations.
Looking at Zillow’s peers in the consumer discretionary - real estate services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. JLL delivered year-on-year revenue growth of 10.8%, beating analysts’ expectations by 1.5%, and Newmark reported revenues up 17%, topping estimates by 2.2%. JLL traded up 4.4% following the results while Newmark was down 6.9%.
Read our full analysis of JLL’s results here and Newmark’s results here.
Investors in the consumer discretionary - real estate services segment have had steady hands going into earnings, with share prices flat over the last month. Zillow is up 7.2% during the same time and is heading into earnings with an average analyst price target of $60.27 (compared to the current share price of $35.31).
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