Why Zillow Group Jumped 11% Today
Shares of real estate marketplace leader Zillow Group (NASDAQ: Z) (NASDAQ: ZG) bounced 15% today after the company reported third-quarter earnings last night. Shares have retreated some, but remain up more than 11% as of noon EST.
The company said revenue for each of its three segments exceeded the high end of its previous estimates.
The COVID-19 pandemic has caused people to rethink how their homes are used, and even where they want to live. Zillow's third-quarter results reflect the higher interest as the company's mobile apps and websites received 21% higher traffic in monthly unique users and 32% growth in visits, compared to the prior-year period.
Source Fool.com
