Zillow earned 2 cents a share on $34.3 million in revenue for the fourth quarter, up 73% year-over-year. Analysts polled by Thomson Reuters were expecting Zillow to break even this quarter on $31.47 million in revenue.
"It was a terrific quarter, ending a great year. I'm really proud of the year we had this year," Rascoff said in an interview with TheStreet.
Revenue growth was led by Marketplace revenue, which was up 95% year over year to $26.8 million. The company's quarterly traffic rose 47% year over year, thanks in part to the surge in mobile. Zillow saw 34.5 million average monthly unique users, with more than 50% of these visits coming from mobile devices in December.The company's mobile strategy continues to drive revenue growth, with Rascoff noting that 100% of Zillow Premier agents are moving towards a mobile buying experience. "A home buyer viewing on mobile is three times more likely to buy a home than when viewing on desktop," Rascoff said during the phone interview. Zillow will hold a conference call at 5 P.M. EST to discuss the results and provide its first-quarter 2013 outlook. Shares of Zillow closed the regular session higher, adding 7.79% to finish at $38.97. The stock is moving higher in extended-hours trading, gaining 5.72% to trade at $41.20 according to Nasdaq.com. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV