Zillow's earnings call presented strong performance metrics with significant growth in Rentals and positive net income, supported by effective cost management. However, challenges remain in the broader housing market and macroeconomic environment.

Company Guidance -

Q3 2025

In the second quarter of fiscal year 2025, Zillow Group reported strong financial results, showcasing a 15% year-over-year increase in total revenue, reaching $655 million, and achieving $155 million in EBITDA, marking a 24% EBITDA margin. The company experienced a 9% rise in For Sale revenue, with residential revenue up by 6% and mortgages revenue surging by 41%. Rentals revenue also exhibited robust growth at 36% year-over-year, driven by a 56% increase in multifamily revenue. Zillow maintained its market leadership with 243 million average monthly unique users and continued to gain share in both For Sale and Rentals. The company is on track to meet its full-year targets, expecting mid-teens revenue growth for 2025, and remains focused on expanding its Enhanced Markets and improving the digital real estate transaction experience.

Double-Digit Revenue Growth

Zillow reported a total revenue increase of 15% year-over-year in Q2 2025, exceeding expectations, with a strong performance in For Sale and Rentals segments.

Rentals Revenue Surge

Rentals revenue grew by 36% year-over-year in Q2, with multifamily revenue up 56% and property count up 45% year-over-year.

Positive Net Income

Zillow reported its second consecutive quarter of positive GAAP net income, driven by strong revenue performance and effective cost management.

Zillow Home Loans Success

Purchase loan origination volume for Zillow Home Loans grew 48% year-over-year to $1.1 billion in Q2, contributing to a 41% increase in mortgages revenue.

Market Leadership in Rentals

Zillow Rentals maintains the #1 position in rentals traffic with 36 million average monthly unique visitors, and the largest property count in the category with 2.4 million active rental listings.

Zillow Group Class A (ZG) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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ZG Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 29, 2025	2025 (Q3)	0.43 / -	0.389	―	―	―
Aug 06, 2025	2025 (Q2)	0.42 / 0.40	0.414	-3.38% (-0.01)	―
May 07, 2025	2025 (Q1)	0.37 / 0.41	0.36	13.89% (+0.05)	―
Feb 11, 2025	2024 (Q4)	0.26 / 0.27	0.2	35.00% (+0.07)
Nov 06, 2024	2024 (Q3)	0.28 / 0.39	0.352	10.51% (+0.04)	―
Aug 07, 2024	2024 (Q2)	0.25 / 0.41	0.39	6.15% (+0.02)	―
May 01, 2024	2024 (Q1)	0.30 / 0.36	0.35	2.86% (+0.01)	―
Feb 13, 2024	2023 (Q4)	0.12 / 0.20	0.21	-4.76% (>-0.01)
Nov 01, 2023	2023 (Q3)	0.22 / 0.35	0.409	-13.94% (-0.06)	―
Aug 02, 2023	2023 (Q2)	0.19 / 0.39	0.465	-16.13% (-0.08)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

ZG Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 06, 2025	$81.51	$81.11	-0.49%
May 07, 2025	$66.44	$66.75	+0.47%
Feb 11, 2025	$83.84	$74.87	-10.70%
Nov 06, 2024	$56.08	$70.09	+24.98%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.