.August 9, 2024 Friday 02:58:49 AM

In the second quarter of 2024, Zillow Group, Inc. reported a revenue increase to $572 million, driven by growth in its residential and rental segments. The company also saw an improvement in its net loss on a GAAP basis to $17 million and reported a net income of $99 million on a non-GAAP basis. With the appointment of Jeremy Wacksman as CEO and a positive revenue forecast for Q3 2024, Zillow is optimistic about its future growth. Despite holding a Zacks Rank #4 (Sell), Zillow’s stock price increased by 18.3% following its impressive performance, indicating a promising future in the real estate industry.