Technology

Zillow Group busts previous revenue record, posts $21.8M net loss

Traffic to real estate giant's apps and websites reaches all-time high

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In an earnings report today, Zillow Group, the operator of listing portals Zillow, Trulia and RealEstate.com, posted a net loss of $21.8 million in second-quarter 2017, up from a $4.6 million loss in the first quarter of 2017, but a steep drop from a $156.1 million loss in second-quarter 2016. The latter includes the impact of a $130 million litigation settlement with realtor.com operator and archrival Move Inc. The company’s revenue grew 28 percent to a record $266.9 million from $208.4 million in the second quarter of 2016, beating its own revenue forecast and surpassing last quarter's record $245.8 million in revenue. As a result, the company upped slightly its revenue expectations for all of 2017, to between $1.055 to $1.065 billion. As usual, most of the company’s first quarter revenue came from Premier Agent advertisers. That program pulled in $189.7 million in Q2, up from $147.1 million in the second quarter of 2016 -- a 29 percent jump. Zillow Group also rep...