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Zillow Group Q2 revenue increased 20%

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Staff writer ▼ | August 5, 2015
Zillow Group announced its consolidated financial results for the second quarter ended June 30, 2015. Revenue increased 20% to $171.3 million from pro forma revenue of $142.8 million in Q2 2014, exceeding the high end of the company's outlook by $2.3 million.
Zillow Group
Zillow Group   $171.3 million in revenue
Excluding Market Leader Revenue, Revenue increased 25% to $158.7 million from $126.8 million in the second quarter of 2014 on a pro forma basis.

Pro forma net loss was $26.7 million in the second quarter of 2015 compared to pro forma net loss of $29.6 million in the same period last year.

GAAP net loss was $38.7 million in the second quarter of 2015, which includes the impact of $1.7 million of acquisition-related costs and $6.7 million of restructuring costs due to the company's February 2015 acquisition of Truliaand the related restructuring plan.

Adjusted EBITDA was $21.0 million in the second quarter of 2015, or 12% of Revenue, which was an increase from pro forma Adjusted EBITDA of $5.6 million in the second quarter of 2014, or 4% of pro forma Revenue, and exceeded the company's outlook by approximately $17 million.

The higher than expected result was driven primarily by lower than expected advertising spend to achieve audience growth, integration related cost synergies and better than expected revenue in the quarter.

Pro forma basic and diluted net loss per share was $0.46 in the second quarter of 2015 compared to pro forma basic and diluted net loss per share of $0.52 in the same period last year.

Basic and diluted GAAP net loss per share was $0.66 in the second quarter of 2015 compared to basic and diluted GAAP net loss per share of $0.26 in the same period last year.

The second quarter of 2015 includes the impact of$0.03 on basic and diluted GAAP net loss per share from acquisition-related costs and $0.11 on basic and diluted GAAP net loss per share from restructuring costs due to the company's February 2015 acquisition of Trulia and the related restructuring plan.

Basic and diluted non-GAAP net loss per share was $0.01 in the second quarter of 2015 compared to basic and diluted non-GAAP net loss per share of $0.05 in the same period last year, which excludes share-based compensation expense, acquisition-related costs and restructuring costs.


 

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