Zillow (NASDAQ:ZG) experienced a surge of over 6% in its share price intra-day today, following the announcement of its fourth-quarter earnings. The company exceeded expectations for both revenue and adjusted EBITDA and provided a positive forecast for 2024.
The company reported a revenue of $474 million for the quarter, surpassing the consensus estimate of $451.21 million. Notably, the Mortgages segment of Zillow contributed $22 million to this total, exceeding the forecast of $20.7 million.
Additionally, Zillow’s adjusted EBITDA reached $69 million, far above the anticipated $58.3 million. The platform also saw 2.2 billion visits during the quarter, in line with analyst projections.