Stock Alert: Zillow Group Jumps 13% On Quarterly Results

(RTTNews) - Shares of Zillow Group, Inc. (Z) are currently gaining over 13% on Friday morning after the digital real-estate company's second-quarter revenues and earnings trumped Wall Street analysts' estimates.

Z is currently trading at $80.96, up $9.54 or 13.35%, on the Nasdaq.

For the second quarter, Zillow reported net loss of $84.4 million or $0.38 per share, wider than last year's loss of $72.0 million or $0.35 per share. Zillow's quarterly revenue grew 28% year over year to $768.4 million, driven primarily by a continued increase in Zillow Offers resale volume.

Analysts polled by Thomson Reuters expected a loss of $0.48 per share on revenues of $611.7 million for the quarter.