Shares of Zillow Group Inc. (Z) plummeted 6.5% in the after-hours session on Tuesday, after the company reported mixed results for the fourth quarter of 2024. Despite beating revenue expectations, the company's earnings fell short of analysts' estimates, disappointing investors.
Zillow reported non-GAAP earnings of $0.27 per share for Q4 2024, missing the consensus estimate of $0.28 by a narrow margin. However, the company's revenue of $554 million surpassed analysts' expectations of $545.9 million, marking a 16.88% increase from the same period last year.
The company's lackluster earnings performance likely contributed to the sharp decline in its stock price during the after-hours trading session. Looking ahead, Zillow issued revenue guidance for the first quarter of 2025, projecting revenue between $575 million and $590 million, which fell short of analysts' expectations of $599.6 million.
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