ZILLOW GROUP (ZG) Company Report

Zillow Group reported Q3 2025 revenue of $676 million, a 16% year-over-year increase, with GAAP net income of $10 million and Adjusted EBITDA of $165 million.
Revenue growth was driven by significant increases in key segments: For Sale revenue grew 10% year-over-year to $488 million, Mortgages revenue increased 36% to $53 million, and Rentals revenue surged 41% to $174 million.
The company ended Q3 2025 with $1.4 billion in cash and investments and reduced outstanding shares by 3.6 million during the quarter through repurchases and capped call settlements.
Zillow Group reiterated its full-year 2025 targets of mid-teens revenue growth, positive GAAP net income, and expanded Adjusted EBITDA margins, with Q4 Rentals revenue growth expected to accelerate to over 45% year-over-year.

Oct 30, 2025, 8:06 PM

Zillow Group Reports Strong Q2 2025 Financial Results and Raises Full-Year Revenue Outlook

Earnings

Guidance Update

Share Buyback

Zillow Group reported strong financial results for Q2 2025, with total revenue up 15% year over year to $655 million, exceeding its outlook, and GAAP net income of $2 million.
Adjusted EBITDA for Q2 2025 was $155 million, at the high end of the company's outlook, with an Adjusted EBITDA margin of 24%.
Revenue growth was driven by Rentals revenue increasing 36% year over year to $159 million, Mortgages revenue increasing 41% year over year to $48 million, and For Sale revenue increasing 9% year over year to $482 million.
The company now expects to deliver mid-teens revenue growth for the full year 2025, which is at the higher end of its previous outlook of low- to mid-teens revenue growth.
Cash and investments at the end of Q2 2025 were $1.2 billion, down from $1.6 billion at the end of Q1, primarily due to the May 2025 settlement of $419 million in convertible notes and $150 million in share repurchases.

Aug 6, 2025, 12:00 AM

Zillow Group faces antitrust lawsuit over MLS listing policy

Legal Proceedings

Compass has filed an antitrust lawsuit in New York federal court accusing Zillow of enforcing a 24-hour MLS upload rule that bans listings not on the MLS within that timeframe from its platform, alleging anticompetitive conduct.
Zillow’s policy, effective June 30, permanently excludes violating listings from its site to uphold the National Association of Realtors’ Clear Cooperation Policy and protect its market dominance.
The lawsuit names eXp Realty and Redfin as co-conspirators, while Compass distinguishes its approach by promoting “office exclusive” and “coming soon” listings before MLS entry to differentiate in the market.
Zillow’s platform hosts about 160 million property listings and attracts 227 million unique monthly visitors, underscoring its industry prominence.

Jun 21, 2025, 7:25 PM

Zillow Group market tips toward balance as inventory rises

Newly pending home sales increased 3.5% in May and are 0.9% above last year.
Inventory reached 1.3 million homes, the highest level since July 2020, easing buyer competition.
Buyer competition fell to the lowest May level on record, creating a more balanced market.
Price cuts occurred on 26% of listings, and home values declined in 22 of the 50 largest metro areas over the past year.

Jun 16, 2025, 12:00 PM

Zillow Group Settles Convertible Debt in 8-K Filing

Debt Issuance

Zillow Group fully settled its approximately $419 million of 2.75% Convertible Senior Notes due 2025, marking a significant debt reduction (document ).
The settlement involved total cash payments of about $425 million and the issuance of 1,385 shares of its Class C capital stock, leaving the company debt-free except for credit facility borrowings for Zillow Home Loans (document ).

May 16, 2025, 12:00 AM

Zillow Group Reports Q1 2025 Financial Results

Earnings

Share Buyback

Revenue Acceleration/Inflection

Zillow Group announced Q1 2025 financial results with total revenue of $598 million representing a 13% year-over-year increase and GAAP net income of $8 million.
The company reported Adjusted EBITDA of $153 million (26% of revenue), indicating strong execution and cost discipline.
Share repurchases of $250 million were executed in Q1, reducing cash and investments to $1.6 billion from $1.9 billion at Q4.
Investor and media contact information was provided, underscoring the company’s commitment to transparent communication.

May 7, 2025, 12:00 AM

Earnings Transcripts

Quarterly earnings call transcripts for ZILLOW GROUP.