Shares of Zillow Group (NASDAQ: ZG) plummeted 18.31% in pre-market trading on Wednesday, following the real estate company's weaker-than-expected revenue guidance for the first quarter of 2025.
Although Zillow reported better-than-expected earnings for the fourth quarter of 2024, investors focused on the company's disappointing outlook for the current quarter. Zillow forecasted Q1 2025 revenue in the range of $575 million to $590 million, falling short of analysts' estimates of around $600 million.
The weak revenue guidance overshadowed Zillow's strong Q4 performance, where the company beat Wall Street's expectations for both earnings and revenue. According to the earnings report, Zillow's adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) for Q4 2024 also topped analysts' forecasts.
Following the earnings release, analysts maintained a neutral stance on Zillow stock, citing concerns over the company's ability to meet growth expectations in the near term. The lackluster Q1 outlook likely fueled these worries, prompting investors to sell off the stock in pre-market trading.
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