- Zillow’s consolidated quarterly revenue increased +158%
- Zillow’s annual revenue was up +106%
- Zillow’s revenue growth was driven by rapid growth in its Homes Segment (+1359%) and strong growth in its Premier Agent Segment (+6%)
Rich Barton, Zillow’s co-founder and CEO, used the words “tumultuously remarkable” to describe his company’s Q4 2019 earnings report. In addition to these ebullient words, Barton said, “We’re in the midst of a multi-year expansion to rewire real estate transactions and streamline how our customers buy, sell, rent and borrow that dramatically expands market opportunity and profit potential. Our team’s strong execution delivered record Q4 and full year results that beat our outlook on every measure.”
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Here’s a summary of Barton’s exuberance for the Zillow Group:
- Zillow’s Q4 Homes segment revenue delivered $603.2M, an increase of +1,359%
- The company’s Premier Agent segment generated $233.5M during Q4 2019, an increase of +6%
- Rentals delivered $39.2M in revenue in Q4, an increase of +12%
- Mortgages delivered revenue of $21.1M in Q4 2019, a decrease of -10% (Some brokerage firms such as Redfin generated an increase of +80% in its mortgage segment during Q4 2019.)
- Zillow ended the year of 2019 with $2.B in cash
The ZillowGroup was operating in 23 markets at the end of Q4 2019, the largest being Los Angeles. The company bought 1,787 homes and sold 1,902 home in Q4. Its total inventory came in at 2,707 homes at the end of the year.
Traffic to ZillowGroup mobile apps and multiple websites reached nearly 173M average monthly and unique users in Q4 2019, an increase of 10% y/y. These users drove 1.8B visits during the quarter and recorded 8.1B visits for the full year of 2019, an increase of +12$ y/y.
Thanks to ZillowGroup’s earnings report’s summary for source data.