Real estate listings portal Zillow saw second-quarter revenue grow by 69 percent, to a record $46.9 million, but posted a $10.2 million net loss the company attributed to share-based compensation expense of $7.1 million relating to a prior acquisition, and increases in marketing and advertising expenses.
Following Zillow’s October 2012 acquisition of Buyfolio, the company began the rollout of Agentfolio, a Web-based “shopping experience” for Premier Agent subscribers and their clients, in June. Agentfolio is now live in six major markets, with plans for more underway, the company said.
Premier Agent subscribers increased by 71 percent from a year ago, to a record 38,807 as of June 30, with average monthly revenue per subscriber of $266, up $3 from a year ago.
Shares in Zillow were down more than 7 percent in after-hours trading. Source: zillow.com.
Editor’s note: This story has been updated to correct that Premier Agent subscribers totaled 38,807 as of June 30.
