Don't Overlook the Huge Turnaround in Zillow's Core Business
The rapid turnaround in Zillow's (NASDAQ: Z)(NASDAQ: ZG) core business, called Premier Agent, has been astounding. It was only about 15 months ago when growth in this business had slowed to near 0% and investors were asking hard questions.
Fast forward to last quarter, and it grew 24%. And the company's management team expects it to grow even faster next quarter. What happened here?
Historically, the Premier Agent business had been an incredible growth machine. Between 2014 and 2018, Premier Agent revenue grew from $239 million to $898 million. That's nearly a 4-fold gain in just four years, good enough for an impressive 39.2% annualized growth rate.
Source Fool.com
