Strong Revenue Growth
Total revenue increased 16% year-over-year to $676 million in Q3, exceeding the high end of the outlook range.
Rentals Revenue Surge
Rentals revenue grew 41% year-over-year with a significant 62% increase in multifamily revenue.
EBITDA Margin Expansion
EBITDA margin expanded more than 200 basis points year-over-year, reaching 24%.
Positive GAAP Net Income
Zillow reported positive GAAP net income of $10 million in Q3.
Innovation in AI and Technology
Launched AI-powered virtual staging on Showcase listings and introduced the Zillow app inside ChatGPT.
Expansion in Enhanced Markets
34% of connections came through the enhanced market experience, up from 27% last quarter.