Zillow Q1 Net Loss Widens

(RTTNews) - Online real estate marketplace Zillow Group, Inc. (Z) a net loss for the first quarter of $58.4 million or $1.19 per share, compared to a net loss of $6.3 million or $0.16 per share for the year-ago quarter.

Excluding share-based compensation expense as well as acquisition and restructuring costs, adjusted net income for the first quarter was $2.2 million or $0.05 per share, compared to $873,000 or $0.02 per share in the prior year quarter.

Pro forma net loss for the first quarter was $17.9 million or $0.31 per share, compared to pro forma net loss of $23.8 million or $0.42 per share in the same quarter last year.

Revenue for the first quarter surged to $127.27 million from $66.24 million a year ago. Pro forma revenue for the quarter increased 35% to $162.5 million from $120.7 million last year.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share on revenue of $135.67 million for the first quarter. Analysts' estimates typically exclude special items.

Zillow reaffirmed its full-year 2015 pro forma revenue outlook of $690 million, which includes Market Leader's expected revenue of $40 million. Analysts currently expect the company to post revenue of $669.84 million for the first quarter.