Finance
Zillow craters 19% after revenue guidance misses expectations
- Zillow shares fell by as much as 19% in after-hours trading after the company’s third-quarter revenue guidance missed analysts’ expectations.
- The online real estate database said it sees Q3 revenue coming in between $337 million and $347 million. Analysts had estimated $408.4 million according to Bloomberg.
- Second-quarter revenue also missed forecasts, at $325.2 million ($325.5 million expected).
- Zillow also announced that it acquired Mortgage Lenders of America to bolster its home-flipping business.
- The company halted its stock after the market close on Monday, pending the news.
- Shares had jumped 45% this year through the market close.
Join the conversation about this story »
NOW WATCH: An early bitcoin investor explains what most people get wrong about the cryptocurrency
Continue Reading
-
Entertainment6 days ago
Teen AI companion: How to keep your child safe
-
Entertainment6 days ago
‘Wallace and Gromit: Vengeance Most Fowl’ review: A delightful romp with an anti-AI streak
-
Entertainment5 days ago
‘Dragon Age: The Veilguard’ review: BioWare made a good game again
-
Entertainment5 days ago
Polling 101: Weighting, probability panels, recall votes, and reaching people by mail
-
Entertainment4 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment4 days ago
5 Dyson Supersonic dupes worth the hype in 2024
-
Entertainment3 days ago
When will we have 2024 election results online?
-
Entertainment3 days ago
Social media drives toxic fandom. Is there a solution?