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August 7, 2013 12:39 am GMT

Zillow Posts Record Q2 Revenue Of $46.9M, But EPS Drops To $0.30 Loss, Traffic Up 66% YOY

zillow logoZillow, the publicly traded online real estate database, just announced its earnings for its second financial quarter of 2013. The company, which saw its stock soar over the last few months, reported record revenue of $46.9 million, but a massive loss per share of $0.30 compared to the $0.05 loss it posted in the last quarter. The Wall Street estimate was that Zillow would post revenue of around $44.42 million and an EPS of -$0.11. The company’s audience – an important metric for Zillow – grew to 61 million unique users on mobile and Web in July 2013. That’s an increase of 66% year-over-year. On mobile devices, monthly uniques doubled over the last twelve months. Last quarter, Zillow reported revenue of $39 million and en EPS of $0.06. In the year-ago quarter, the company reported revenue of $27.8 million. “The second quarter was a tremendous one for Zillow as our focus and investments delivered record revenue, traffic and Premier Agent growth,” said Spencer Rascoff, CEO of Zillow in a statement today. “We’re executing to the long game and making great progress against our strategic priorities to grow audience and gain market share, grow our Premier Agent business, and grow our emerging marketplaces. We’ve seen substantial audience growth with another record traffic month in July with more than 61 million unique users on mobile and Web, and we added a record number of Premier Agent subscribers during the quarter. Also, our emerging marketplaces are taking flight as Mortgages Revenue more than doubled in the quarter compared to last year, and we’re beginning to test monetization in our growing Rentals Marketplace.” Last week, Zillow’s closest publicly traded competitor Trulia posted record earnings for its last financial quarter, so a lot of analysts will be looking at Zillow’s numbers today as an indicator for how the online real estate market as a whole is doing. After Trulia posted its earnings, quite a few analysts believed that Zillow would surprise them, too. Here are the highlights from today’s report: Revenue increased 69% to a record $46.9 million from $27.8 million in the second quarter of 2012. Marketplace Revenue increased 86% to a record$36.5 millionfrom$19.6 millionin the second quarter of 2012. Real Estate Revenue grew 80% to$30.6 millionfrom$17.0 millionin the second quarter of 2012. Mortgages Revenue grew 126% to$5.8 millionfrom$2.6 millionin the second quarter of 2012. Display Revenue increased 29% to$10.5 millionfrom$8.1 millionin the second

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