Technology

How Zillow Group’s revenue (and expenses) grew in Q2

The company reported a record revenue quarter and paid out a lawsuit settlement

So far, 2016 has been quite a year for Zillow Group, which operates the real estate portals Zillow, Trulia, StreetEasy, HotPads and Naked Apartments. The company settled a lawsuit with realtor.com operator Move, Inc., that came with a hefty damages request ($2 billion), rolled out extensive changes to its Premier Agent app, and it just acquired Bridge Interactive -- so what's next? The company released its second-quarter financial results today, showing revenue at $208.4 million in Q2 and expenses at $363.7 million. The good news for investors is that the company hit a record-breaking revenue quarter; its revenue increased 31 percent year-over-year -- however, it's still operating at a net loss of $155.3 million. That's a hefty number, outpacing last quarter's $47.6 million net loss, which included $15.7 million in legal costs resulting from the aforementioned lawsuit battle. Zillow Group estimated that the suit would cost the company a total of $50 million to $55 mi...