Real estate site Zillow just released its third-quarter earnings report, once again coming in just ahead of what Wall Street analysts had predicted. The company said it saw $31.9 million in revenue and earnings of 8 cents per share in the quarter ending September 30. That?s up from revenue of $19.1 million and EPS of 2 cents during the same quarter last year.
The revenue numbers break down to $23.6 million from the marketplace (which includes Premier Agent subscriptions), $8.3 million from display advertising.
Analysts had estimated that the company would earn 7 cents per share on revenue of $31.66 million. Net income, meanwhile, was $2.3 million, up from a loss of $0.6 million during the same quarter last year.
Also, as covered in a separate post, Zillow announced the acquisition of mortgage software company Mortech. Here?s the statement from CEO Spencer Rascoff:
Zillow had another great quarter with record usage across mobile and Web. In fact, we reached a major milestone recently, topping 1 billion home views on Zillow Mobile through the first three quarters of 2012. During the quarter we also expanded our suite of technology tools and services for professionals. Last week we announced the acquisition of Buyfolio, a collaborative shopping tool that can increase the conversion rates for agents, and further add value to our successful Premier Agent program. We?ve made another important leap today with the announcement of our planned acquisition of Mortech, which will further extend the services we provide to the mortgage industry.
More growth numbers: Zillow said it saw an average of 36.1 million unique visitors (across mobile and Web) during the quarter, an increase of 11.9 from last year. That includes a record high of 37 million in July.
Back in September, the company announced that it would be selling additional stock in a follow-on offering. In the past few weeks (after the close of the third quarter), Zillow has made a number of other announcements, including the addition of 1.2 million foreclosed and pre-foreclosure homes to its listings and the acquisition of shopping site Buyfolio.
Zillow, Inc. founded and operates Zillow.com ? a leading online real estate marketplace dedicated to helping homeowners, buyers, sellers, renters, real estate agents, mortgage professionals, landlords, and property managers find and share vital information about homes, real estate, and mortgages. Zilow, Inc. also operates Zillow Mortgage Marketplace and Zillow Mobile. Rich Barton and Lloyd Frink started Zillow in early 2005, and Zillow.com launched in early 2006 with data and information on millions of U.S. homes. Zillow?s goal is to help...
? Learn moreSource: http://techcrunch.com/2012/11/05/zillow-q3-earnings/
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