Shares of online real-estate listing provider Zillow fell nearly 1% to $97.34 in after-hours trading after the company reported a surprising profit for the first quarter. But revenue was lower than
Moreover, the company left its guidance for all of 2015 unchanged at $690 million and said second-quarter revenue would be $168 million to $169 million, about in line with Street estimates.
The stock initially rose to as high as $103.50 after hours, according to Nasdaq data, before falling back. In regular trading, the shares had closed at $97.98, down 0.7% on the day.
For the first quarter, company reported non-GAAP earnings of 5 cents a share in the first quarter, up from a non-GAAP loss of 2 cents a share a year ago - a pleasant surprise. The Street was looking
for a loss of 12 cents a share on a non-GAAP basis.
Real-estate data firm Zillow provides consumers with information on home prices, rental rates and interest rates. (AP Photo/Keith Srakocic)
First-quarter revenue was up 92% from a year ago to $127.3 million, but the consensus estimate was $135.7 million. There were other estimates of $140 million or more. Revenue included revenue from
Trulia after the deal closed. But there was weakness in display advertising (to companies like Home Depot, Lowe's and Sherwin Williams) and in its Market Leader software suite, acquired with
On a pro-forma basis -- which assumed Trulia was part of Zillow on Jan. 1 -- revenue was up 35% to $162.5 million.
On a GAAP basis, the company lost $58.4 million. That included $12.5 million in acquisition costs and $25.1 million in restructuring costs.