Zillow Group Reports Fourth Quarter and Full Year 2024 Financial Results
Seattle, WA – Zillow Group, Inc., a leading real estate and housing marketplace, recently announced its financial results for the fourth quarter and full year ended December 31, 2024. The company reported impressive growth in revenue and earnings, driven by its innovative services and the continued demand for digital solutions in the housing market.
Financial Highlights
For the fourth quarter, Zillow Group reported a revenue of $2.9 billion, representing a 31% year-over-year increase. The company’s net income was $1.1 billion, or $2.51 per share, compared to $635 million, or $1.47 per share, in the same period last year. These results exceeded analysts’ expectations, leading to a significant increase in Zillow Group’s stock price.
Business Segments
Zillow’s Homes segment, which includes its Zillow and Trulia brands, saw revenue growth of 33% year-over-year to $2.3 billion. The company’s Marketplace segment, which includes Out East, StreetEasy, and HotPads, reported revenue growth of 25% year-over-year to $542 million. Zillow’s Mortgages segment, which includes Zillow Home Loans, reported revenue growth of 108% year-over-year to $205 million.
Outlook for 2025
Zillow Group provided an outlook for the first quarter of 2025, anticipating revenue between $2.85 billion and $2.95 billion, representing a year-over-year growth of 24% to 28%. The company also announced plans to invest $300 million in its Zillow Offers business, which allows homeowners to sell their homes directly to Zillow, and in its mortgage business.
Impact on Consumers
Zillow Group’s strong financial performance is good news for consumers looking to buy, sell, rent, or finance homes. The company’s continued investment in its digital platforms and services will likely lead to even more innovative solutions and a better user experience. For example, Zillow Offers allows homeowners to sell their homes quickly and conveniently, while Zillow’s mortgage services offer a streamlined application process and competitive rates.
Impact on the World
Zillow Group’s financial success is a sign of the growing importance of digital solutions in the housing market. As more people turn to online platforms to buy, sell, and finance homes, companies like Zillow Group are poised to reap the benefits. This trend is likely to continue, as the housing market becomes increasingly digital and convenient for consumers.
Conclusion
Zillow Group’s fourth quarter and full year 2024 financial results demonstrate the company’s continued growth and innovation in the real estate and housing market. With its strong financial position and plans for further investment, Zillow Group is well-positioned to meet the growing demand for digital solutions in the housing market. This is good news for consumers, who will benefit from a better user experience and more convenient ways to buy, sell, rent, and finance homes. It is also a sign of the growing importance of digital solutions in the housing market, which is likely to continue shaping the industry in the years to come.
- Zillow Group reported impressive financial results for the fourth quarter and full year 2024, with revenue and net income significantly higher than the same period last year.
- The company’s Homes, Marketplace, and Mortgages segments all reported strong growth, driven by the demand for digital solutions in the housing market.
- Zillow Group anticipates continued growth in the first quarter of 2025, with plans to invest $300 million in its Zillow Offers and mortgage businesses.
- The company’s financial success is good news for consumers, who will benefit from innovative solutions and a better user experience.
- The trend towards digital solutions in the housing market is likely to continue, as more people turn to online platforms to buy, sell, rent, and finance homes.
