Why Zillow Group Stock Was Climbing Today
Shares of Zillow Group (NASDAQ: Z) (NASDAQ: ZG) were moving higher today after the online real estate company posted better-than-expected results in its third-quarter earnings report, driven by the company's move into house flipping. Class A shares (ZG) were up 11.7% as of 11:57 a.m. EST, while the nonvoting Class C stock (Z) had gained 13.2%.
Zillow, which also owns several other brands including Trulia and StreetEasy, said revenue in the quarter more than doubled, jumping 117% to $745.2 million from its push into buying and selling homes. That figure was well ahead of analyst estimates at $718 million.
Image source: Zillow.
Source Fool.com
