Shares of Zillow Group (ZG) plummeted over 6% in pre-market trading on Wednesday, following the online real estate company's weaker-than-expected fourth-quarter earnings and disappointing revenue guidance for the first quarter.
According to the earnings report, Zillow's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) and revenue for Q4 beat Wall Street expectations. However, the company's outlook for the first quarter fell short of analysts' estimates.
Zillow forecasted adjusted EBITDA in the range of $125 million to $140 million for Q1, lower than the consensus estimate of $158 million. Additionally, the company projected revenue of $575 million to $590 million, missing the expected $600 million.
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