Zillow Group Inc.’s revenue was slashed by nearly 90% in the first quarter of 2023, and that was on purpose.
Zillow Z ZG lapped the biggest quarter of the fire sale that erupted from the abrupt end to its home-flipping business with an earnings report Wednesday, which is why its sales total showed such a huge year-over-year decline. The $469 million in first-quarter net sales that Zillow reported, while down from $4.26 billion a year ago, easily topped FactSet’s average analyst estimate of $425 million in an uncertain residential...
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: