Zillow adjusted its financial outlook for the year on a call this morning with CEO Spencer Rascoff. He said that Zillow is expecting earnings before interest, taxes, depreciation and amortization (EBITDA) in the range of $80 million to $85 million for 2015, down from analysts’ projections.

Rascoff blamed the FTC review of the Trulia merger for the company’s lower estimates and poor performance of some Trulia assets. This was due due to some adjustments Zillow has made with Trulia products.

“The work we are doing this year lays the foundation for an incredibly bright 2016 and 2017. However, 2015 is a transition year and we’re trending a couple quarters behind where we’d like to be, due to the protracted [FTC] approval process which only ended two months ago,” Rascoff said, referring to the recent deal to merge with Trulia.

Rascoff also said revenue estimates would be off.  The call put some blame on Trulia’s performance, describing it as “softer than we’d like” in part because of the FTC review and product changes. He described 2015 as a “little messy.”

The Seattle company has found itself in the middle of several controversial situations, from employee litigation to a lawsuit with its competitor Move to the loss of listings due to the termination of its agreements with ListHub.

Rascoff did say that the company has filled the ListHub gap better than he expected earlier in the year, before the April 7 contract termination.

This story has been updated.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription