Zillow Group, Inc. Class C (Z) Earnings
Zillow Group, Inc. Class C is expected to report next earnings on August 5, 2026 (in NaN days), with a consensus EPS estimate of $0.44. Z has beaten EPS estimates in 11 of its last 12 reported quarters (average surprise +9.2% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.43 | $0.53 | +23.3% | $708M | +0.4% |
| Oct 30, 2025 | $0.43 | $0.44 | +2.8% | $676M | +0.8% |
| May 7, 2025 | $0.37 | $0.41 | +10.9% | $598M | +1.5% |
| May 1, 2024 | $0.36 | $0.36 | +0.0% | $529M | +4.0% |
| Feb 13, 2024 | $0.12 | $0.20 | +66.7% | $474M | +4.9% |
| Nov 1, 2023 | $0.23 | $0.33 | +43.5% | $496M | +3.2% |
| Aug 2, 2023 | $0.18 | $0.39 | +116.7% | $506M | +7.1% |
| May 3, 2023 | $0.12 | $0.35 | +191.7% | $469M | +10.3% |
| Feb 15, 2023 | $0.07 | $0.21 | +200.0% | $435M | +4.9% |
| Nov 2, 2022 | $0.06 | $0.38 | +533.3% | $483M | +5.4% |
| Aug 4, 2022 | $0.33 | $0.47 | +42.4% | $1.0B | +2.5% |
| May 5, 2022 | $0.26 | $0.49 | +88.5% | $4.3B | +26.7% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 6, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Strategies focus on making moving easier by connecting and integrating experiences. For sale, integration of marketing, search, financing, etc. drives better outcomes, with purchase loan origination volume growing 96% year-round and Zillow Home Loans becoming a top 25 purchase lender. In rentals, Zillow has an all-time high of 76,000 multi-family properties and 2.7 million average rentals in Q1, with new tools like Total Monthly Price Feature and paid social product launched. Emphasis on using AI to accelerate strategy, with AI mode live for about 5% of audience showing encouraging early signals, and Follow-up boss becoming an AI-powered workflow engine for agents.
Guidance
Q2 outlook: total revenue expected $750,000 - $765,000 with ~16% growth midpoint, for-sale revenue similar to Q1 with residential growth mid-single digits, mortgages on track for growth, rentals revenue growth 30% year over year, EBITDA expected $165 million with incremental legal and advertising expenses. Full-year outlook: ~30% growth in rentals revenue, update on share base to be down more than 15% year-over-year, expect fixed cost base to grow with inflation, variable costs to trend by year end, legal expenses to be less of a headwind in second half, advertising spend more weighted but less pressure on margins in back half.
Segment performance
Total revenue increased 18% year over year. For-sale revenue grew 12% year-over-year to $514 million, with residential revenue of $450 million up 8% year-over-year and mortgage revenue up 56% year-on-year to $64 million. Rentals revenue was $100 million, with multifamily being the engine behind growth and up 57% year-over-year. EBITDA exceeded outlook driven by lower costs than planned, with net income of $46 million and net income margin expansion more than 500 basis points.