Zillow Announces Quarterly Earnings, Acquires Mortech
Zillow has reported their Q3 earnings revenues recently. The company is reporting $31.9 million in revenues and earnings of 8 cents per share for the quarter ending September 30th. Zillow has revenues of $19.1 million and an earnings per share of 2 cents last year in the same quarter. Zillow made $23.6 million from the marketplace and $8.3 million from display advertising.
The net income was $2.3 million, which is up from a loss of $0.6 million during the same quarter last year. Analysts were estimating that Zillow would earn 7 cents per share on revenues of $31.66 million.
Zillow also recently acquired a mortgage software company called Mortech.
Zillow reported average traffic of 36.1 million unique visitors through their mobile app and website during the quarter. This is an increase of 11.9 million from the last year. The company also has a record of 37 million monthly unique visitors in July.@amitchowdhry or on Google+ at +AmitChowdhry