Zillow Inc (NASDAQ:Z), the leading real estate and home-related marketplace, beat revenue estimates after close today when it reported a loss per share of $0.05, $0.01 more than the $0.04 expected by analysts. Revenue for the quarter came in at $78.7 million, up from the $76.6 that was expected by The Street.
Zillow’s earnings and gains
Zillow Inc (NASDAQ:Z) reported record quarterly revenue of $78.7 million, up 68% over the corresponding quarter and record quarterly and all-time traffic, with a new monthly record in July 2014 of nearly 89 million unique users on mobile and Web.
This year has been a record-breaking year for initial public offerings with companies going public via SPAC mergers, direct listings and standard IPOS. At Techlive this week, Jack Cassel of Nasdaq and A.J. Murphy of Standard Industries joined Willem Marx of The Wall Street Journal and Barron's Group to talk about companies and trends in Read More
“We had our strongest quarter yet with record consumer traffic and record revenue and bookings by Premier Agent advertisers,” said Spencer Rascoff, Zillow CEO. “Our deliberate focus on high-performing agents and their teams drove the significant increase in orders, and has prompted us to increase our full-year outlook. Advertisers are clearly following audience, and we’re continuing to reinvest in the business to get the flywheel to spin even faster.
“Additionally, last week we announced our entry into an agreement to acquire Trulia Inc (NYSE:TRLA), a move that we believe will allow us to combine our resources and achieve even more impressive innovation for consumers and advertisers.”
The company also raised its expectations for the remainder of the year raising its full-year revenue outlook to $321-$323 million, up from a prior view of $304-$308 million.
Despite these positives, Zillow Inc (NASDAQ:Z) is presently (5:10 EDT) trading at $139.66 down $1.40 from today’s close of $141.06 for a loss of roughly 1%.
First Solar hurting in after hours trading
First Solar, Inc. (NASDAQ:FSLR), the Tempe, Ariz.-based company wasn’t so fortunate when it reported following today’s market close and saw sharp declines in profits owing to project delays.
The company reported earnings of $0.04 a share on net income of $4.53 million. Year-over-year, those numbers are quite disappointing as they reported earnings of $0.37 and $34 million respectively in 2013.
“While project delays in Q2 resulted in deferring some earnings to later in the year we remain on track to our financial targets for the year and reaffirm our full-year 2014 EPS and operating cash flow guidance,” said CEO Jim Hughes.
After today’s close, First Solar had gained nearly 17% in 2014 but is giving a good deal of that back in after-hours trading. Having closed the day at $63.66, the company is presently (5:21PM EDT) trading at $60.65 down $3.01 or $4.73 percent despite the company’s belief that things will pick up and the delays will simply defer revenues.