Zillow Group (NASDAQ:Z) saw its stock jump over 14% in pre-market today following third-quarter earnings that surpassed analyst forecasts. The real estate technology firm posted adjusted earnings per share of $0.35, topping the anticipated $0.26, while revenue reached $581 million, beating projections of $555.41 million and marking a 17% year-over-year increase.
Growth across Zillow’s business segments fueled the strong results. Residential revenue increased by 12% year-over-year to $405 million, Rentals revenue rose 24% to $123 million, and the Mortgages segment surged 63% to $39 million, underscoring the company’s strategic expansion across real estate services.
For the fourth quarter, Zillow provided revenue guidance between $525 million and $540 million, aligning closely with the consensus estimate of $532.4 million.