U.S. real estate marketplace Zillow Group has announced a bump in revenue during Q1 of 2017, with financials up 32 per cent year on year to a record $245.8 million, for the three months ended March 31, 2017.
First quarter highlights
- Revenue increased 32% year-over-year to a record $245.8 million.
- Full-year Revenue outlook raised to a range of $1.050 billion to $1.065 billion.
- Zillow Group brands’ mobile apps and websites reached more than 166 million average monthly unique users in the first quarter of 2017 and an all-time high of nearly 180 million unique users in March 2017.
- Visits to Zillow Group brands’ mobile apps and websites, including Zillow, Trulia and StreetEasy, increased 18% year-over-year to more than 1.5 billion in the first quarter of 2017.
Zillow Group CEO Spencer Rascoff said the Group’s positive Q1 results was a reflection of the way users have been interacting with the platform.
“Zillow Group’s strong first quarter performance across the board was a tremendous start to 2017,” Rascoff said. “We beat our own expectations and surpassed last year’s seasonal annual traffic peak by reaching an all-time high of unique users in March. We are thrilled with our first quarter results, which demonstrate that as consumers become more engaged, real estate agents and brokerages become more successful on our platform.”