An all-time high of more than 171 million unique users in May across Zillow Group’s consumer real estate listing sites in the US has led to a record sales revenue of $208.4 for the second quarter of 2016.
Zillow Group, which includes property brands Zillow, Trulia, StreetEasy, HotPads and Naked Apartments, increased its year-on-year revenue by 31 percent, excluding revenue from Market Leader, which was divested in the third quarter of 2015.
Marketplace revenue of $191.6 million increased by 44 percent year-over-year, excluding revenue from Market Leader.
Zillow Group CEO Spencer Rascoff said a huge boost in traffic was the reason for the group's financial success this quarter.
"Record revenue and traffic growth were highlights of Zillow Group's tremendous second quarter," he said.
"We continue to command significant category leadership on mobile and web, reaching an all-time high of unique users in May and achieving our largest market share of the real estate category.”
Zillow also captured a majority market share of the mobile-only category.
“It is clear that our monetisation on mobile is benefiting from our significant market leadership, which now captures 78 percent of the mobile-only category,” he said.
“We are executing well against our long-term strategic priorities to increase our audience size, grow our Premier Agent and emerging marketplaces, and attract and retain the best talent in the industry."
Premier Agent Revenue increased 28 percent to $147.1 million from $115.2 million in the second quarter of 2015, while mortgages revenue increased 77 percent to $18.4 million from $10.4 million.
Display revenue decreased 35 percent to $16.8 million from $25.8 million in the second quarter of 2015, which the company says is primarily a result of its strategy to de-emphasise display advertising and improve the user experience.