Zillow Projects Q4 Revenue Between $635M and $665M Amid Declining Purchase Originations
Zillow Group (Z) reported resilience in its third quarter despite a sharp deterioration in housing market conditions. CEO Jeremy Wacksman noted that the company continued to grow and outperform even as mortgage rates climbed from the mid-6% range to the mid-7% range during the period. Looking ahead to the fourth quarter, Zillow expects revenue to fall between $635 million and $665 million. This guidance comes alongside a projected decline in purchase originations of 10% to 15%, reflecting the broader impact of rising interest rates on housing activity.
Tickers: $ZG
Topics: earnings report housing market mortgage rates revenue growth
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Part of the story Zillow expects Q4 revenue of $635M-$665M as purchase originations decline 10%-15% (3 articles)