Zillow Inc (Z) Beats Q3 EPS Estimates

Zillow Inc (Z) Beats Q3 EPS Estimates
Zillow Inc Z

Zillow Inc (NASDAQ:Z) released its earnings numbers for the three months ending September 2013 this afternoon after the bell rang on Wall Street. The company showed a loss per share of ($0.05) for the quarter on revenue totaling $53.3 million. On today’s market shares in the online property company trended up in anticipation of the earnings release.

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In the run up to the release of this afternoon’s earnings report analysts following Zillow Inc (NASDAQ:Z) were looking for a loss of ($0.08) per share from the company. A consensus revenue estimate, which was enumerated by a Bloomberg survey of twelve analysts, was pegged at $51.3 million.

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Zillow earnings

Zilllow showed earnings of 13 cents per share for the same period last year. Revenue for the September quarter of 2012 came in at $31.9 million. Zillow Inc (NASDAQ:Z) is expected to break even for the full year 2013. The company is using all of its earnings this year to invest in its brand and increase sales. Growth is expected to return next year, but management may decide to extend their period of investment if results are not to their liking.

Zillow Inc (NASDAQ:Z) does not release non-GAAP earnings numbers, so it is difficult to figure out some of the performance of the company. Analysts are looking for non-GAAP losses of seven cents for the third quarter of 2013.

Zillow performance

Zillow shares have increased formidably in 2013. The company’s stock has increased by more than 190% since the start of 2013. The company’s performance has been aided by the excellent performance of its biggest rival Trulia Inc (NYSE:TRLA). That company’s third quarter came in above expectations last week.

Executives from Zillow Inc (NASDAQ:Z) will host a conference call at 5:00PM EST in order to discuss this afternoon’s earnings report. Analysts will be looking for the company’s management to speak about its investment ideas for 2014, and the company’s guidance for the current quarter.

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