Zillow Inc. Earnings: Swing to a Profit, Topping Analysts’ Estimates
Zillow Inc. (NASDAQ:Z) climbed to a profit in the most recent quarter, beating Wall Street estimates.
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Zillow Earnings Cheat Sheet for the Fourth Quarter
Results: Reported a profit of $922,000 (3 cents per diluted share) in the quarter. Zillow Inc. had a net loss of $486,000 or a loss 4 cents per share in the year earlier quarter.
Revenue: Rose more than twofold to $19.9 million from the year earlier quarter.
Actual vs. Wall St. Expectations: Zillow Inc. reported adjusted net income of 4 cents per share. By that measure, the company beat the mean analyst estimate of a loss of 3 cents per share. It beat the average revenue estimate of $18.8 million.
Quoting Management: “The fourth quarter was another excellent one for Zillow, capping off an outstanding year that further strengthens our market leadership position,” said Spencer Rascoff, chief executive officer of Zillow. “Our continued product innovation, particularly on mobile and in expanding the types of services we offer real estate professionals, is fueling our growth and expanding Zillow’s total addressable market. Additionally, our revenue model spans across the Web and mobile, which positions us exceptionally well for further revenue gains from mobile in 2012 and beyond.”
The company has now beaten estimates the last two quarters. In the third quarter, it topped expectations with net income of 5 cents versus a mean estimate of net income of one cent per share.
Looking Forward: Expectations for the first quarter of the next fiscal year have not changed from 0 cents. The average estimate for the fiscal year has remained at 5 cents per share.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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