Zillow Group Inc
NASDAQ:Z
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Zillow Group Inc
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Zillow Group Inc
Zillow Group runs one of the best-known online real estate marketplaces in the United States. Its websites and apps help people search for homes to buy or rent, compare listings, estimate home values, and connect with real estate agents, landlords, and mortgage lenders. The company sits in the middle of the home-buying process, making it easier for consumers to research housing and for real estate professionals to reach potential customers. Zillow makes money mainly by selling advertising and lead-generation products to agents, brokers, and property managers. It also earns fees from services tied to home search and transaction activities, such as mortgage-related offerings and other housing tools. In simple terms, it monetizes the traffic that comes to its housing marketplace by turning shopper interest into paid customer leads and related services. What makes Zillow different is that it is not a traditional broker or homebuilder. It is a digital storefront for housing information and customer access, with a brand that is deeply tied to the home search experience. That puts it in a key role at the top of the housing funnel, where many buyers and renters begin their search long before they speak with an agent or lender.
Zillow Group runs one of the best-known online real estate marketplaces in the United States. Its websites and apps help people search for homes to buy or rent, compare listings, estimate home values, and connect with real estate agents, landlords, and mortgage lenders. The company sits in the middle of the home-buying process, making it easier for consumers to research housing and for real estate professionals to reach potential customers.
Zillow makes money mainly by selling advertising and lead-generation products to agents, brokers, and property managers. It also earns fees from services tied to home search and transaction activities, such as mortgage-related offerings and other housing tools. In simple terms, it monetizes the traffic that comes to its housing marketplace by turning shopper interest into paid customer leads and related services.
What makes Zillow different is that it is not a traditional broker or homebuilder. It is a digital storefront for housing information and customer access, with a brand that is deeply tied to the home search experience. That puts it in a key role at the top of the housing funnel, where many buyers and renters begin their search long before they speak with an agent or lender.
Revenue: Zillow reported first-quarter revenue of $708 million, up 18% year over year and near the high end of guidance, with EBITDA above the top end of outlook.
Margin: Net income was $46 million and net income margin improved by more than 500 basis points year over year, showing continued operating leverage.
For Sale: For Sale revenue rose 12% to $514 million, helped by strong mortgage growth and continued momentum in enhanced markets even as the housing market stayed soft.
Rentals: Rentals revenue grew 42% to $183 million, led by multifamily, and management said the business remains on track for a $1 billion-plus annual revenue opportunity.
AI Push: Zillow said its new AI mode is live for about 5% of its audience and early usage is producing deeper, more actionable conversations.
Outlook: Management reaffirmed full-year 2026 guidance for mid-teens total revenue growth and continued EBITDA margin expansion, while lifting share-based compensation guidance to down more than 15% year over year.
Capital Return: Zillow repurchased $626 million of stock in the quarter and ended with about $1.3 billion of total liquidity.
