Why Zillow Group Stock Is Falling Today
Shares of Zillow Group (NASDAQ: Z) (NASDAQ: ZG) fell by as much as 15% Friday morning after the company reported its first-quarter results. While Zillow beat analysts' consensus estimates on both top and bottom lines, investors appeared disappointed with the company's second-quarter revenue guidance.
Shares rebounded somewhat from that initial drop, but the real estate tech company's stock was still down by 3.2% as of 12:18 p.m. ET.
Zillow reported first-quarter adjusted earnings of $0.49 per share, which easily topped Wall Street's average estimate of $0.26 per share.
Source Fool.com
