07 11, 2024
Washington state voters reject initiatives that aimed to repeal capital gains tax and climate program
Washington state voters rejected initiatives that would have axed a capital gains tax and a program ...
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07 Nov, 2024
Zillow Group revenue up 17% to $581M as rentals, mortgage units drive growth
Zillow Group beat estimates for its third quarter, reporting revenue of $581 million and adjusted earnings of $127 million.
- Revenue from the company’s rentals business was up 24% year-over-year to $123 million. Mortgages revenue grew 63% to $39 million. Residential revenue was up 12% to $405 million.
- Traffic to Zillow’s mobile apps and websites was 233 million average monthly unique users, up 1% year-over-year.
- Zillow and other housing companies saw share prices fall Wednesday as mortgage rates rose following Donald Trump’s presidential victory. But Zillow’s shares were back up 6% in after-hours trading.
- Zillow announced in August longtime executive Jeremy Wacksman as its new CEO, taking over from co-founder Rich Barton.
