Thursday, August 25, 2011

Zillow?s Q2: Revenues Up 116 Percent To A Record $15.8M, Hits Profitability

zillow-picture-1Real estate listings site Zillow reported its first earnings as a public company today, after debuting on the NASDAQ in mid-July. Zillow revealed record revenues of $15.8 million in the second quarter, up 116% year-over-year. Net Income for the quarter came in at $1.6 million, compared to a net loss of $2 million in the same period a year ago and a net loss of $0.8 in the first quarter of 2011. This quarter marked the company's first quarter of GAAP profitability Zillow saw record Marketplace Revenues of $9.7 million, up 269% year-over-year. Premier Agent subscribers, which contribute to Marketplace revenues, totaled 13,385 at June 30, 2011, up 180% from 4,777 at the end of the second quarter of 2010. Display revenues increased 30% to $6.1 million from $4.7 million in the second quarter of 2010.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/oR8aJkz5ghg/

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