Zillow stock soars after announcing earnings, expansion of home-sales efforts

Zillow Group Inc. is continuing to build out its business of buying and selling houses and offering mortgage services, pushing its losses higher while also boosting revenue.

Zillow Z, -1.66% on Thursday afternoon reported first-quarter losses of $67.5 million, or 33 cents a share, wider than last year’s loss of 10 cents a share. Revenue increased to $454.1 million, up from $325.2 million a year ago and ahead of analysts’ average estimates. Analysts on average expected a loss of 34 cents a share on sales of $432.1 million, according to FactSet. Shares jumped almost 19% in after-hours trading following the announcements.

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