By Roshan Fernandez
Zillow Group reported swung to a profit for the first time since the second quarter of 2022.
The company reported a first-quarter profit of $8 million compared with a loss of $23 million a year earlier.
Revenue rose to $598 million from $529 million a year earlier. Analysts surveyed by FactSet had forecast sales of $589 million.
Chief Executive Jeremy Wacksman said the company's continued expansion of services and scaling of its "housing super app" to reach more real estate markets helped the company's top and bottom lines. The company said traffic to its mobile app and sites was up 5% year over year to 227 million average monthly users.
"Our strong Q1 results surpassed our expectations and demonstrate how well we're executing. We are on track to meet our full-year 2025 goals, and we're well-positioned to deliver sustainable profitable growth," Wacksman said.
For the second quarter, the Seattle-based company expects revenue of $635 million to $650 million. Analysts guided for $649 million.
Write to Roshan Fernandez at roshan.fernandez@wsj.com
(END) Dow Jones Newswires
May 07, 2025 17:17 ET (21:17 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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