ZILLOW GROUP Reports $489 million Quarterly Revenue

ZILLOW GROUP reported quarterly results highlighted by for Sale revenue was flat year over year in Q3 at $489 million., according to its earnings release filed with an 8-K Wednesday.

Residential revenue was down 4% year over year in Q3 to $419 million, due to higher-than-expected mortgage rates that pressured housing transaction volume. Mortgages revenue increased 32% year over year to $70 million in Q3, primarily due to a 55% increase in purchase loan origination volume to $2.0 billion. Rentals revenue increased 26% year over year in Q3 to $220 million, primarily driven by multifamily revenue growing 35% year over year. Net loss was $158 million in Q3, and net loss margin was 22%. Diluted net loss per share was $0.70, compared with diluted net income per share of $0.04 in Q3 2025.

Zillow Chief Executive Officer said, "Q3 highlighted Zillow’s durability. We grew revenue and outperformed the real estate category during one of the toughest housing markets in a generation,"

Results detail

Further figures in the release included Adjusted EBITDA was $182 million in Q3, within our outlook range, and Adjusted EBITDA margin was 25%. 2; Cash and investments at the end of Q3 were $707 million.

The filing is an Item 2.02 results announcement furnished with Exhibit 99.1. Comparisons use the year-earlier period as presented by ZILLOW GROUP unless the release specifies another baseline. Where both GAAP and non-GAAP metrics appear, both are summarized when the extract includes them.

Segment mix, cash flow and any outlook language in the release are the usual secondary reads after the headline revenue and earnings figures. One-time items—restructuring, impairments, gains on sales or legal settlements—can move GAAP profit without changing the run-rate story, so reconciliations remain essential.

Why it matters

For retail investors, the ZILLOW GROUP print is a check on whether growth, margins and cash generation are moving together. The figures above come from the company’s Exhibit 99.1 earnings materials; how they stack up against the prior-year run rate and any guide published with the release will shape the near-term debate.

By the numbers

• For Sale revenue was flat year over year in Q3 at $489 million.
• Residential revenue was down 4% year over year in Q3 to $419 million, due to higher-than-expected mortgage rates that pressured housing transaction volume.
• Mortgages revenue increased 32% year over year to $70 million in Q3, primarily due to a 55% increase in purchase loan origination volume to $2.0 billion.
• Rentals revenue increased 26% year over year in Q3 to $220 million, primarily driven by multifamily revenue growing 35% year over year.
• Net loss was $158 million in Q3, and net loss margin was 22%. Diluted net loss per share was $0.70, compared with diluted net income per share of $0.04 in Q3 2025.
• Adjusted EBITDA was $182 million in Q3, within our outlook range, and Adjusted EBITDA margin was 25%. 2

Sources

1. ZILLOW GROUP, INC. Form 8-K with quarterly financial results, filed 2026-11-04 (accession 0001617640-26-000068)

This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.

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