Seattle-based real estate company Qiluo Group The second-quarter revenue announced on Thursday was $1.3 billion, slightly higher than analysts’ expectations.
Expected revenue is $1.28 billion, and earnings per share are 24 cents. Consolidated net income is 10 million U.S. dollars.
- The company’s Internet, Media, and Technology (IMT) division’s revenue increased by 70% year-on-year to $476 million. Premier Agent revenue increased by 82% year-on-year.
- The income of the residential sector reached a record 777 million U.S. dollars.
- Revenue from the mortgage division increased 68% year-on-year to US$57 million.
Rich Barton, co-founder and CEO of Zillow Group, said the company expects that recent real estate market trends, including low interest rates and flexible job opportunities, will continue to stimulate interest in Zillow.
related: Redfin’s second quarter revenue soared by 121% due to increased net loss due to the acquisition of RentPath
The company’s mobile applications and website had an average of 229 million unique users per month in the second quarter, an increase of 5% year-on-year. This drove the number of visits to 2.8 billion, a year-on-year increase of 10%.
The company’s cash and investments totaled $4.6 billion at the end of the quarter.
The stock rose 1.08% in after-hours trading on Thursday.