Why Zillow's Stock Jumped 7.8% on Wednesday
Shares of housing tech company Zillow Group (NASDAQ: Z) (NASDAQ: ZG) jumped as much as 13.5% in early trading on Wednesday after the company reported fourth-quarter 2023 financial results. Shares closed trading up 7.8% for the day.
The headline numbers weren't all that impressive for Zillow. Revenue was up 9% to $474 million, beating the $451 million analysts expected, and net loss was $73 million.
On an adjusted basis, which pulls out one-time expenses and stock-based compensation, earnings were $0.20 per share, topping the $0.12 that Wall Street expected.
Source Fool.com
