Record Revenue Growth
Zillow reported total Q4 revenue of $554 million, up 17% year-over-year, and full year 2024 revenue growth of 15% to $2.2 billion, despite a challenging housing market.
Strong Performance in Rentals
Rentals segment finished strong in Q4 with revenue up 25% year-over-year, increasing the number of multifamily properties on Zillow to 50,000, up from 37,000 at the end of 2023.
Enhanced Market Strategy Success
Enhanced Markets covered 21% of all connections in Q4 2024, and Zillow expects to increase their share of connections to more than 35% by the end of 2025.
Mortgage Revenue Growth
Mortgages revenue grew 86% year-over-year to $41 million in Q4, with purchase loan origination volume growing 90% year-over-year.
Positive GAAP Net Income Expected in 2025
Zillow expects to achieve positive GAAP net income for the full year 2025, driven by ongoing revenue growth and cost management.