Walt Disney and Zillow Group released their latest earnings reports after closing bell tonight. Disney posted earnings of $1.55 per share on $14.8 billion in revenue, compared to the consensus estimates of $1.50 per share in earnings and $15 billion in revenue. In the year-ago quarter, the company reported $1.63 per share in adjusted earnings and $15.2 billion in revenue.
Zillow reported $227.6 million in revenue, while Wall Street was looking for $223 million in revenue. It had guided for fourth quarter revenue to be between $218 million and $223 million. In the year-ago quarter, revenue amounted to $169.4 million.
The technology industry has long been on the receiving end of billions of dollars in capital, but what's next for the industry? Greylock General Partner Sarah Guo joined Wall Street Journal reporter Zoe Thomas to talk about the future of tech investment. Q3 2021 hedge fund letters, conferences and more Seed Funding Thomas asked Guo Read More
Walt Disney’s GAAP earnings fell to $1.55 per share from $1.73 per share in the year-ago quarter. Media Networks revenue fell 2% to $6.2 billion, while Parks and Resorts revenue grew 6% to $4.6 billion. Studio Entertainment revenues declined 7% year over year to $2.5 billion, while Consumer Products & Interactive Media revenues plunged 23% to $1.5 billion.
Shares of Walt Disney slumped by as much as 1.61% to $107.24 in after-hours trades tonight.
Zillow Group reported GAAP losses of 13 cents per share, compared to losses of 14 cents per share in the year-ago quarter. The company reported adjusted EBITDA of $54.7 million, compared to $20.4 million in the same quarter a year previously. Zillow Group had guided for adjusted EBITDA of between $96.1 million and $101.1 million.
Marketplace revenue rose 42% year over year to $210.6 million. Premier Agent revenue grew 32%, while Mortgages revenue rose 41%. Display revenue fell 20% to $17 million as a result of the company’s deemphasis on display advertising and refocus on improving the user experience.
For the first quarter, Zillow Group projects $232 million to $237 million in revenue and $36 million to $41 million in adjusted EBITDA. It expects net losses of $14.1 million to $19.1 million. Analysts expect adjusted earnings of 6 cents per share, compared to losses of 13 cents per share in the same quarter a year ago, and $235.9 million in revenue.
Shares of Zillow Group tumbled in after-hours trades, falling by as much as 4.06% to $35.65.